Textile industry players agree on tax stamp implementation mode

Players in the textiles value chain have come to a consensus on the mode of implementation of the newly instituted tax stamps for textiles in the country. 

This is to allow importers and retailers of textiles enough time to clear all old stocks of the product. 

At a stakeholder engagement in Accra, all parties agreed to join forces to nib the canker or problem of piracy in the sector in the bud.

On April 27, workers of local textiles manufacturing companies comprising ATL, GTP, Printex and Volta Star staged a demonstration to drum home the need for authorities to urgently take pragmatic steps to deal with the issue of piracy confronting the sector. 

In view of this the Ministry of Trade and Industry had a tête-à-tête with representatives of labour unions of the textiles manufacturers where a five main thematic approach to solving the problem were agreed on. 

These include introduction of tax stamps, import restrictions and the extension of the mandate of the anti-piracy task-force to the markets. 

The meeting therefore is to reach a consensus and validate the mode of tackling the situation.  

The Trade Minister, Alan Kyeremanten said it is unfortunate that locally produced textiles have suffered major setbacks over the years.  

He was hopeful that stakeholders will work hard to ensure that all old stocks are cleared within the three months grace  period given before  the  enforcement takes  effect on September 1. 

General Secretary of the Industrial Workers Union, ICU, Solomon Kotei, said the future of these indigenous companies  do not look promising, hence the need for an all hands on deck approach to deal with the issue. 
              
President of the Makola Cloth Sellers Association, Christiana Laryea said sensitisation is imperative to ensure the smooth implementation of the agreement. 
             
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