Spare parts dealers at Abossey Okai, in Accra are expected to close down their shops in protest of the new directives on Forex operations in the country.
This comes after the Association of Used Auto Parts Dealers gave government an ultimatum to review the new directives, which expires on Tuesday, February 25.
This follows a series of meetings with the Bank of Ghana and representatives of the Finance Ministry.
As part of a road map to protest against the new directives, the shop owners have been displaying red bands at their premises for the past two weeks.
According to the chairman of the association, Siaw Ampadu, their over 20,000 members will ensure their concerns are addressed.
“We are meeting on Wednesday Feb 26, to take a final decision on our next line of action, we have had to change our road map to suit government but we are prepared to take action now”, he affirmed.
Background
The association of used auto parts dealers at Abbossey Okai at a meeting on February 12, gave government a one-month ultimatum to reverse new Forex rules announced by the Bank of Ghana.
The 20,000-member association threatened to halt the charging of three percent value added tax-(VAT) on their products if government refuses to address their concerns.
According to spare parts dealers, the new directives on Forex operations in the country were crippling their businesses.
The spare part dealers also called on government to monitor and control the operation of foreign retailers whose operations are contributing to the depreciating cedi.
By: Rabiu Alhassan/citifmonline.com/Ghana