The AGI says the high cost of utility still hampers the efforts of its members to expand their businesses and employ more people. “The apparent silence by businesses in the last few months on issues of high cost of power tariffs should not be misconstrued as acceptance of the business community of the current energy tariff levels. “It is indeed a helpless situation for industries in particular and everything should be done to improve efficiency and reduce the electricity tariffs as it is rendering our businesses uncompetitive,”
President of AGI, James Asare Adjei remarked. Mr. Asare Adjei made the remarks at the 56th Annual General Meeting of the AGI in Kumasi on Wednesday, November 2, 2016. He however lauded the efforts by authorities for what he described as the significant improvement in energy supply in the past few months. “This level of improvement comes as a welcome development to us as private sector operators.”
The AGI boss however believes the ultimate relief for businesses will be for electricity tariffs to be reduced. According to him, the high cost is still a challenge for businesses to surmount and be competitive in the local and international markets. “The improvement in the energy supply has brought in its wake the high and unbearable tariff costs to industries in particular and industries in general.” This year’s AGM was on the theme, “Growing local industries for export development and job creation.”
Commenting on the theme, Mr. Asare Adjei further challenged more resources to be channeled into developing the export sector to reduce the country’s balance of trade deficit and shore up the country’s currency. Meanwhile James Asare Adjei has commended government for the relative macro-economic stability. He is however urging that sustainable measures are instituted to foster the economic gains made and reflect in the general macro-economic outlook.