The CEO of Erata Motors Mr Eddie Kusi Ankomah says the reversal of the benchmark value might result in an increase in smuggling in the country among some importers.
Speaking in an exclusive interview he explained that, the situation will lead to smuggling and under-declaration of imported goods at the various ports of entry. He is therefore suggesting that the government should do as much as it can to reduce the benchmark value to bring relief to the traders.
According to him, the reversal of benchmark value will affect the prices of goods and services including vehicles, spare parts, equipment and plants, machinery, foods and pharmaceuticals among others because the cost of borrowing is going to go high, and in turn will affect business growth and the country’s economy.
Mr Ankomah was optimistic that, the reduction of the benchmark value will go a long way to ensure compliance at the country’s various points of entry.
He appealed to the government to listen to the concerns of the business community, particularly importers, dealers and traders who would be affected most by the reversal of the benchmark value.
According to him, he is still optimistic that after stakeholders’ engagement with the finance minister something good in favour of the business community to happen .
