{"id":669790,"date":"2019-08-01T17:08:53","date_gmt":"2019-08-01T17:08:53","guid":{"rendered":"
\n\t\t\n

Rev. Dr. George\nDawson-Ahmoah<\/strong><\/p>\n\n\n\n

The Steel Manufacturers Association of\nGhana (SMAG) says the recent increase in electricity tariff, coupled with high\ncost of importation of steel, is killing the local steel industr"},"modified":"2019-08-01T17:08:53","modified_gmt":"2019-08-01T17:08:53","slug":"steel-industry-suffering-from-high-electricity-tariffs","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/01\/steel-industry-suffering-from-high-electricity-tariffs\/","title":{"rendered":"Steel Industry Suffering From High Electricity Tariffs"},"content":{"rendered":"

<\/p>\n

\n

Rev. Dr. George
\nDawson-Ahmoah<\/strong><\/p>\n

The Steel Manufacturers Association of
\nGhana (SMAG) says the recent increase in electricity tariff, coupled with high
\ncost of importation of steel, is killing the local steel industry.<\/p>\n

Members of the association yesterday
\nwere at Parliament House to meet joint Parliament committees on energy, trade
\nand industry after they had earlier petitioned the Speaker of Parliament over
\nthe recent increase in electricity tariff.<\/p>\n

The Executive Secretary\/Consultant of
\nthe Association, Rev. Dr. George Dawson-Ahmoah, after the meeting told
\njournalists that the steel industry was strategic for economic development and
\nmust not be forced out of business.<\/p>\n

He said the tariff challenges were
\ncausing unrest in the industry, adding \u201ccurrently, electricity tariff is
\nhovering around 92% for the steel industry.\u201d<\/p>\n

\u201cWe are saddened by the fact that the
\nnumber of steel manufacturing companies in Ghana was eight but two of them have
\nrecently collapsed because of these unfavourable business conditions,\u201d he
\ndisclosed. \u201cIt is worthy to note that the local steel industry employs about
\n3,000 direct workers and 10,000 indirect workers. The companies also contribute
\nsignificantly towards government revenue in the form of taxes,\u201d he added.<\/p>\n

Rev. Dr. George Dawson-Ahmoah, who doubles as the Executive Secretary of the
\nChamber of Cement Manufacturers, stressed that the steel industry also uses
\nlocal content by providing job for over 10,000 scrap dealers, and it is
\nexpected to consume about 1.2 million tonnes of scrap for production annually.<\/p>\n

\u201cThe installed
\ncapacity of the local steel industry is about 1,200,000 metric tonnes per annum
\nagainst an annual average demand of about 350,000 metric tonnes per annum which
\nresults in a surplus of 850,000 metric tonnes per annum. How can we kill such
\nan industry by encouraging importation of finished steel products when it has
\nsuch a huge surplus capacity?\u201d he queried. <\/p>\n

\u201cOur checks have
\nit that some of our neighbouring countries pay as low as 0.9 cent per Kw\/h of
\nelectricity so until the enquiry is concluded we are requesting that the old
\ntariff of GH\u00a20.41 pesewas must be maintained as an interim tariff,\u201d he pointed
\nout.<\/p>\n

On the issue of
\nthe illegal importation of steel products into the country, the association appealed
\nto the government for a legislative instrument (LI) which would introduce quotas
\nthat would regulate the importation and also introduce\/impose certain levies as
\nsafeguard measures on importation to protect the local steel industry.<\/p>\n

Members of SMAG are
\nSentuo Steel Company Limited, Tema Steel Company Limited, United Steel Company,
\nRider Steel Limited, Ferro Fabrik Limited and Fabrimetal Ghana Limited.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Rev. Dr. George Dawson-Ahmoah The Steel Manufacturers Association of Ghana (SMAG) says the recent increase in electricity tariff, coupled with high cost of importation of steel, is killing the local steel industry. Members of the association yesterday were at Parliament House to meet joint Parliament committees on energy, trade and industry after they had earlier […]<\/p>\n","protected":false},"author":1,"featured_media":669791,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-669790","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"\nSteel Industry Suffering From High Electricity Tariffs - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/08\/01\/steel-industry-suffering-from-high-electricity-tariffs\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Steel Industry Suffering From High Electricity Tariffs - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Rev. Dr. George Dawson-Ahmoah The Steel Manufacturers Association of Ghana (SMAG) says the recent increase in electricity tariff, coupled with high cost of importation of steel, is killing the local steel industry. 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