1D1F and PFJ will suffer if benchmark discount is retained \u2013 Dr Ayim-Darke<\/b><\/p>\n Discount on benchmark a disincentive to private investment \u2013 AGI<\/p>\n No investor will invest in a country with an influx of imported goods \u2013 AGI president<\/p>\n The Association of Ghana Industries (AGI) has said government retaining the discount on the benchmark values will go against its policies and programmes.<\/p>\n Speaking at a press conference in Accra, the president of AGI, Humphrey Ayim-Darke, said retaining the discount will negatively affect the government\u2019s programmes like the One District One Factory (1D1F), Planting for Food and Jobs (PFJ) which is aimed at transforming Ghana\u2019s economy and creating more jobs.<\/p>\n He said retaining the discount will make some of the industries established by the government under its initiatives redundant.<\/p>\n \u201cTo mention a few, we have seen the Government commissioned the Savelugu rice factory in August and Sefwi Akontombra rice factory in September just last year. These two recent investments totalling about GHC14 million risk becoming redundant if such large rice imports persist,\u201d the AGI president was quoted by GNA.<\/p>\n According to him, the disruption in global supply chains during the height of the COVID-19 pandemic has proved why it is important to have a vibrant local manufacturing sector. <\/p>\n \u201cWith the disruption of global supply chains, high cost of raw materials and freight during the pandemic, we all saw the need to quickly scale-up the development of our local supply chains,\u201d he said.<\/p>\n \u201cToday, we are all complaining of the rising cost of freight. But the more dependent we are on imports, the more likely we are to bear the brunt of such high freight costs and the reverse holds true,\u201d he added.<\/p>\n He said the discount on the benchmark values would lead to lead to an influx of imported goods which discourages private investment.<\/p>\n \u201cInvestor confidence is waning, and no investor would like to invest in a real sector that is currently exposed to the influx of imports as we have,\u201d he explained.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" President Akufo-Addo at 1D1f facory 1D1F and PFJ will suffer if benchmark discount is retained \u2013 Dr Ayim-Darke Discount on benchmark a disincentive to private investment \u2013 AGI No investor will invest in a country with an influx of imported goods \u2013 AGI president The Association of Ghana Industries (AGI) has said government retaining the […]<\/p>\n","protected":false},"author":1,"featured_media":244515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-744548","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/744548","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=744548"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/744548\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=744548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=744548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=744548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"President](\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2021\/10\/51518021.295.jpg\" "\\"President")
President Akufo-Addo at 1D1f facory<\/span><\/span><\/p>\n<\/div>\n