Displaying items by tag: GCMA
Ghana: According to local media Modern Ghana, George Dawson-Ahmoah, chairman of the Ghana Cement Manufacturers Association (GCMA), has called for the imposition of anti-dumping duties on imported cement to rid the industry of unfair trade practices by importers and protect investments by local cement manufacturers and the employment of locals.
Dawson-Ahmoah urged the government to take its cue from South Africa, which recently imposed provisional anti-dumping duties on cement originating from Pakistan. South Africa imposed provisional anti-dumping duties on cement from Pakistan from 15 May 2015 following investigations initiated by the International Trade Administration Commission of South Africa (ITAC) on 22 August 2014 after a number of local cement producing companies submitted an application on behalf of the industry.
Dumping occurs when companies export their goods to foreign markets at prices lower than what they charge for the same product in their home market. When dumping causes material injury to an industry in the market to which the products are exported, it is considered unfair trade.
Dawson-Ahmoah said that since countries are entitled to act in terms of World Trade Organisation (WTO) rules and procedures with an objective to level the playing field between domestic producers and foreign competitors, Ghana's government should act appropriately to defend the local market from undue price under cuttings, which have the potential to 'destabilise' the industry.
Ghana: The Ghana Cement Manufacturers Association (GCMA), which comprises Ghacem Ltd, Diamond Cement Company Ltd and Savannah Diamond Company Ltd, has appealed to the Ministry of Finance to urgently commence investigation into what it described as the tax liabilities of certain importers of bagged cement into the country.
In a letter dated 26 May 2015 and addressed to the director of taxes at the Finance Ministry, the GCMA said that it had gathered that two importers, SOL Ghana Ltd and Fujiman Sentuo, had allegedly declared cost, insurance, freight (CIF) values of about US$27/t and US$30/t respectively. The letter, jointly signed by George Dawson-Ahmoah, chairman and N Venketash, vice chairman / secretary, stated, 'The alleged values to us as seasoned manufacturers in the cement industry are unbelievable and call for the attention of the tax authorities. Such values, when confirmed, are under-valued leading to huge financial loss to the nation."