Six prominent business associations, collectively known as the Joint Business Consultative Forum, have submitted a petition to Parliament, urging lawmakers to reject the import restrictions bill proposed by the Ministry of Trade and Industry.

The forum includes key organizations such as the Ghana Union of Traders Associations (GUTA), Food and Beverages Association of Ghana (FABAG), Importers and Exporters Association of Ghana, Ghana Institute of Freight Forwarders (GIFF), Chamber of Automobile Dealership Ghana (CADEG), and Ghana National Chamber of Commerce and Industry (GNCCI).

Expressing their concerns in the petition dated Sunday, November 26, the forum outlined potential detrimental effects of the bill on their businesses. They argue that if enacted, the legislation could adversely impact the prices of goods, disrupt the free flow of goods, and pose potential harm to businesses. The business associations collectively advocate for a reconsideration of the proposed import restrictions to safeguard the interests of the business community.

“We vehemently oppose this LI and would appreciate its immediate rejection by Parliament to allow for proper consultations and dialogue to take place.”

“We strongly oppose this LI on the following grounds: The price of most products mentioned in the Ministry of Trade and Industry policy proposal will result in serious price hikes, as competition will be severely restricted.”

They added that “The Minister is the ultimate decision maker on which companies end up trading in each of these items. This will eventually lead to a monopolistic or oligopolistic position for a few select businesses in the country at the expense of many smaller businesses.”

Meanwhile, when the Minister tried to introduce the Legislative Instrument (LI) before the House, the Minority objected for the second time. The LI aims to limit the importation of a few specific strategic products, including rice, chicken, and sugar.