Senior lecturer in economics at the Koforidua Technical University and Executive Director of the Africa Development and Resources Research Institute (ADRRI) says the decision by the government to scrap taxes on locally manufactured sanitary pads is a step in the right direction.
He was, however, quick to say that we need these initiatives for local industries to help reduce our dependence on imported products that can easily be manufactured in the country.
The government has announced eliminating taxes on locally produced sanitary pads to promote women’s health and empower women.
Eliminating the value-added tax (VAT) on locally produced sanitary pads is expected to boost the country’s economy.
He stated, “Mr. Speaker, public debt accumulation has slowed down significantly as the government continues to consolidate its public finances. This decision to scrap taxes on sanitary pads reflects our commitment to addressing women’s health needs and promoting gender equality.”
Some have argued that scrapping the taxes on sanitary pads is a significant step towards making hygienic products more affordable and accessible for women.
This move will improve menstrual hygiene management and reduce financial burdens on women and girls.
It is expected to boost the country’s GDP, with economists projecting a 2.3% growth in 2023 and a 5% increase by 2027m the Minister said.
The economist who reacted to this move praised it, especially the raw materials.
He pointed out that the manufacturing sector’s growth rate is -2.1 per cent, and that any serious economy must find innovative ways to support industry.
According to him, Ghana is an import-driven economy, and if we do not take our time to deal with the problem and reduce our reliance on imported goods and services, we will face serious challenges.
By: Rainbowradioonline.com/Ghana
