Stop giving Tax Exemptions to Steel Importers – B5 Plus CEO Charges Gov’t

Chief Executive Officer of B5 Plus Group, Mukesh Thakwani,  has charged government to put an immediate ban on the importation of iron rods and related products that his company produces here in Ghana by the company as it is hampering production and distribution of their products.

Also, he wants the government to put a stop on the tax exemptions given to importers of such products as it encourages smuggling of these items into the country, and thereby worsening their (company’s) plight all the more .

Thakwani made the call when the Parliamentary Press Corps paid a working visit to the company’s factory site situated in the Ningo-Prampram Constituency on Wednesday , November 9, 2022.

He stated that though the company has the capacity to produce about 60,000 tonnes of steel products per day, currently it only produces just about 10,00 tonnes per day.

He indicated that the company can produce not only for the consumption of Ghana, but the West African sub-region, with Six (6) countries already in the supply chain of the company. These include Senegal, Gambia, Liberia, and the Ivory Coast.

Also, all things being equal, the company can supply steel products to the whole of Africa and beyond.

The CEO noted that though Ghana is going through tough times economically, this is hampering their production further

EMPLOYMENT

Thakwani stated that the company though faced with a number of challenges has an employment figure of over 15,000  with over 28 distribution areas across the West African Sub-regions.

OUTSTANDING ACHIEVEMENTS

The CEO indicated that the company being the largest producer of Oxygen in the country, has been at the helm of free supply of Oxygen to hospitals throughout the country since the COVID-19 episode about three years ago. Also, the company donates blood to the hospitals in the country. It also trains about 110 trainees into self-employment every Six (6) months .

The company is also into education. “Education and experience can never be taken away from the benefactor’’. Also, workers are trained sufficiently to avoid foreseeable risks. He explained further that quantity and quality of the company are high.

CHALLENGES

The CEO while highlighting the success stories of the company stated that it is also faced with many challenges. These include the importation and smuggling of products produced by the company and the tax exemption given such companies. He revealed that though the (company) is in talk with the government over the exemption of taxes, the talks are yet to yield any positive dividends.

LANDGUARDISM

The CEO stated that the biggest challenge facing the company is ‘’landguadism’’. According to him, about a third of the acquired land mass of 6,668 acres has been under threats of landguards, with three families laying claims to the same land. He indicated that though they have titles to the land, and in constant talks with government, it has not been fruitful. He subsequently implored the government to come to their aid in this regard.

CEO Praises 1D1F Initiative

Thakwani pointed out the performance of the privately-owned B5 Plus Group, and said if the government ensures the sustenance of 1D1F, lots of employment and revenue via dollars can be generated for the country.

He indicated that with their over 15,000 employment status, if something is done about their plights, they (company) can generate more revenue for the country.

By S. O. Ankamah