Benchmark reversal:  Social Commentator questions the effectiveness of industries in the country.

Mr. Abdul Awal, a social commentator in the Bono Region is questioning the effectiveness of the local manufacturing industries in Ghana.

He is of the view that several factories in Ghana and their outputs cannot be substituted for imported goods.

“Most factories in the country are not operating to expectations, others don't have the raw materials to be used for production whiles others are left unconcern in the Bush to rot due to political interference” He lamented.

 He is therefore urging the government to consider being selective in items that are not predominantly produced here in Ghana to have the benchmark value on them to reduce the high rate of prices that may come as a result of the benchmark value reversal.

Mr. Abdul Awal’s comments follow the government’s recent reversal of the 50% benchmark value which takes effect today.

As the Finance Minister, Ken Ofori Attah announced the government’s decision to reverse the said 50% benchmark when he presented the 2022 budget statement to parliament, and is expected to take effect today.

But Dr. Sampson Anomah, A Chattered Accountant (FCCA), Senior Lecturer and the Head of Department of Accountancy and Accounting Information Systems at the Kumasi Technical University who is also an economist has on the other hand eulogized the government for such an eloquent decision being taken.

In an interview with Soiree News, Dr. Anomah said “the NPP government believes in building strong industrious avenues hence the commencement of one District one factory initiative to widen the industrializations in the country”.

“The One District One Factory initiative is a great decision with Ghanaians embracing it therefore when opportunities are given to these factories, they can produce more products to enrich the made in Ghana products which will create and expand local employment in the country, he emphasized.

He further explained that giving opportunities to importers to import goods and other products always gives opportunities to foreign companies to produce more thereby expanding their companies whiles Ghana on the importing side loses at the end hence his commendation of the government’s move to save the country.