COVID 19: Local Factories are in Dire Need of Government Support - Dr Opoku Marfo.

A lecturer with the department of Business Sciences at the University of Energy and Natural Resources has called on government to ensure due diligence in the disbursement of the proposed 1 billion Ghana cedis stimulus package it (government) intends to support the business due to the impact of the novel Covid 19 infection on businesses and the economy.

Speaking to KKbPortal, Dr Emmanuel Opoku Marfo proposed the government should get the books of various companies to assess their tax compliance before they are given a bite of the stimulus package.

"To ensure equitable and fair distribution of this package, government has to go through the books of every applying company to ensure if it has filed its tax returns. In this regard, government will be able to ascertain the real value of stimulus package deserved each company" he observed.

Dr Marfo who is also the CEO of Watman Company Limited, a One District One Factory project factory at Atebubu also noted, this is the time government has to dole out tax holidays to some local companies to cushion them in the production of goods and services to suffice the needs of the citizenry.

"In this hard times where import and export has temporarily truncated, government has to grant  tax holidays to manufacturing companies to anchor them in producing as many as needed essential goods for the dire needs of the citizens. The worst to be hit are the companies which manufacture goods that are exported to foreign countries. They really need some relief to stay in business" he opined.

Touching on the lessons this novel virus has brought to the country, Dr Marfo noted "this moment though  unfortunate, reinforces us to begin to patronize our made in Ghana goods, most especially food items. At my factory we are into rice production and  the grains are of fine quality both in nutrition and texture. In effect this will upsurge employment in the country and generate more revenue for the government" 

He however called on government to build silos and buffer stock offices across district capitals of farming communities to curb post harvest losses which hamper the financial liberation of farmers.

"For 2018, the APHLIS data showed that Ghana’s losses from  four cereals was valued at around US$141.12 million – more than GH¢680.19 million, this means that, if silos were available and these grains were stored, farmers could have had a token to compensate their sweat and this is the perennial damning effect of lack of silos"  he expressed worry. 

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