Local textile manufacturing companies in Ghana have appealed to the government for tax exemptions on their products as an incentive to help revive the industry. According to them, this will help them compete with the influx of cheap textile products from China and other parts of the world.
According to the textile manufacturing companies, about 70 pe rcent of textiles on the Ghanaian market are cheap imported products mostly from Togo and China. The remaining 30 percent is shared among three local textile companies – Ghana Textile Printing (GTP), Akosombo Textiles Ltd (ATL) and Printex. These three companies currently produce about 30 million yards of fabrics even though it has the capacity to do about 60 million annually. The tax stamp is likely to curtail the situation.
