Private Sector Advisory Council must address the high cost of doing business - GCCI
Posted on: 05-Sep-2012
One key issue the Private Sector Advisory Council must focus on is the high cost of doing business in the country.
That’s the strong appeal from the Chamber of Commerce and Industry.
The yet-to-be inaugurated advisory council to be chaired by President Mahama is to expedite action on addressing the challenges of the private sector.
President of the Chamber, Seth Adjei-Baah is urging the council to imperatively address the issue of high interest rates.
“The banks as charging as high as between 33 and 36 percent interest compared to the global level of less than 10 percent. How do you compete with such global companies when our banks are not even giving us long and medium term facilities. Other core issues are the exchange rate and the cost of electricity and water among others” he said.