Presidential candidate of the New Patriotic Party (NPP), Dr Mahamadu Bawumia says he will implement an initiative aimed at bolstering the pharmaceutical industry in Ghana through a dedicated fund arrangement if he is elected the president.
According to the Vice President there was the need for a specialized financial institution to facilitate this initiative.
He said this at a meeting with members of the Pharmaceutical Society of Ghana.
He said his administration will put measures that will support the local drug manufacturers to reduce reliance on imports.
He emphasised the potential benefits of leveraging Ghana’s comparative advantage in the pharmaceutical business.
He noted that under his presidency, he will position Ghana as a regional manufacturing hub.
“We need a financial institution that understands the business so for me, I believe that once we have made the decision that we are going to make Ghana a hub for manufacturing in this subregion, then you have to support it with the financial resources.
“And I think the gain from that would be huge for Ghana. And I think we should do it because we have a comparative advantage.”
He also pledged to introduce policies to ensure that Ghana’s port duties remain competitive compared to those in Lome, Togo.
“We’re going to change the duty structure and go into more of a flat specific duty. If you have a 40-footer container, you know how much you are paying in cedis. So, you take the exchange rate out of the matter and deal with it.”
“We are also going to make sure that our duties in ports by policy, cannot be higher than in Lome, which is our competitor. And right now, there’s a lot of diversion of containers to Lome because ours are higher.”
By: Rainbowradioonline.com/Ghana
