Benchmark discount reversal will help grow local industry – Alfred Thompson<\/b><\/p>\n If you buy imported goods you are creating jobs for people outside Ghana, ex-deputy MD of NIB<\/p>\n Benchmark discount reversal will help stabilise Ghana cedi<\/p>\n Former Deputy MD of the National Investment Bank (NIB), Alfred Thompson, has said that the reversal of the discount on the value of imported goods under the benchmark value is due to President Nana Addo Dankwa Akufo-Addo\u2019s determination to grow the local industry.<\/p>\n He said the removal of the discount will increase local production of the affected goods which will help grow domestic industries.<\/p>\n He added the local production of such goods implies that there will be no need to import them which will also help stabilize the Ghana cedi because demand for foreign currency will reduce.<\/p>\n In an interview on TV3, the former deputy MD (managing director) said: \u201cWe are not saying the fact that we have local industries doesn\u2019t mean we won\u2019t import. We are growing rice here but we are still importing rice.\u201d<\/p>\n He said even though local industries could not be able to meet the demand of Ghanaians there is a need to protect them <\/p>\n \u201cYou don\u2019t start something and immediately you meet demand locally, you can\u2019t. It is a process and that is why it will take time but you have to start somewhere.<\/p>\n \u201cIf you don\u2019t start somewhere, you will not get anywhere and government is keen on making sure that we grow this country locally. People should be empowered to stand on their feet and say, I have been able to start this factory,\u201d he said.<\/p>\n Alfred Thompson who is also a member of the government added that buying imported goods implied that Ghanaians were creating jobs for citizens of other countries.<\/p>\n \u201cWhen you buy goods from outside you are creating employment for foreigners and it affects your currency. Our policy is to grow, establish local people,\u201d he said<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Local manufacturing of face masks Benchmark discount reversal will help grow local industry – Alfred Thompson If you buy imported goods you are creating jobs for people outside Ghana, ex-deputy MD of NIB Benchmark discount reversal will help stabilise Ghana cedi Former Deputy MD of the National Investment Bank (NIB), Alfred Thompson, has said that […]<\/p>\n","protected":false},"author":1,"featured_media":740416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[705,202,706,707,708,709,278,245],"class_list":["post-740414","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-akufoaddos","tag-benchmark","tag-determination","tag-grow","tag-industry","tag-local","tag-reversal"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/740414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=740414"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/740414\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=740414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=740414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=740414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Local](\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/01\/84739737.295.jpg\" "\\"Local")
Local manufacturing of face masks<\/span><\/span><\/p>\n<\/div>\n