President of the National Chamber of Commerce and Industry, Nana Dr. Appiagyei Dankawoso I, has stated that the importation of goods into the country that has always been the cry of citizens can never be brought to an end.
“We cannot cancel importation of goods because it is trade liberation, but we must change our packaging mode to make our goods attractive and demanding,” he said.
He further explained that prices of goods in Ghana become more expensive than imported ones due to high interest rates on our loans.
“ . . Interest rates on loans are our major concern and the reason why some products produced in Ghana are much expensive than others brought from foreign countries, all because their interest rates on loans are far cheaper than we have in Ghana.”
Giving a specific example of such instances, Nana Dr. Appiagyei Dankawoso I in a one-on-one interview with UTV noted that almost 95% of fish and meat we consume are imported from foreign lands because interest rates on loans in those countries are far lesser than we have in Ghana.
According to him our poultry farmers are unable to pay the interest rates accruing on loans collected from banks, all because they don’t have the full capital for their business.
Source: Elizabeth Semiheva Bedi/Peacefmonline.com/Ghana
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