By Grace Zigah
President John Dramani Mahama led Government is set to introduce targeted restrictions on the importation of goods that are locally manufacturable, in a bold policy shift aimed at revitalizing domestic industry and reducing pressure on the country’s foreign exchange reserves.
Finance Minister Cassiel Ato Forson made the announcement during a high-level engagement with the Plastic Manufacturers Association of Ghana over the weekend.
The meeting, held to address the industry’s mounting concerns, signaled a strategic turn by the government toward protecting and empowering local industries in the face of economic headwinds.
The proposed restrictions, according to the Minister, form part of broader efforts to stimulate industrial growth, safeguard local jobs, and reduce Ghana’s dependency on imported goods that can be produced within the country.
“We will place curbs on items that are locally available. It is a necessary step to strengthen Ghanaian enterprise, generate employment, and stabilise the economy,” Forson said.
The move comes amid complaints from local manufacturers about unfair competition from imported goods, particularly low-grade plastics, and misuse of tax exemptions by some importers.
Members of the Plastic Manufacturers Association warned that dumping of substandard goods and loopholes in import policy are threatening the survival of indigenous companies.
In addition to calling for an import clampdown, the Association urged the government to overhaul its taxation structure, arguing that a disproportionate tax burden on a few businesses is stifling growth and innovation.
They also cited export challenges and excessive port charges as key barriers to expansion.
Dr. Forson acknowledged these grievances and assured stakeholders of the government’s commitment to work collaboratively with the Ghana Revenue Authority (GRA) to plug revenue leakages at the ports.
He noted that part of the economic strain comes from inefficiencies in customs systems and the undervaluation of goods, which cost the state significant revenue annually.
The Finance Minister emphasized that reducing inflation and stabilizing the cedi remain top economic priorities, as both directly impact the cost of imports and port operations.
“We are determined to stabilize the exchange rate and reduce inflation, which in turn will ease cost pressures on businesses,” he said.
The announcement signals the government’s growing resolve to adopt protectionist measures in key sectors of the economy, especially where there is clear local production capacity.
