Thursday, June 18, 2009

Cable manufacturers call for gov’t’s support

Manufacturers of cable and the conductors have urged government as a matter of urgency to provide financial support to grow the local industry.

Operators of the sector contended that accessing financial assistance from the financial institutions is very expensive and that affects the cost of production which also reflects in their cost of products.

Mrs. Kate Quartey-Papafio, Chief Executive Officer of Reroy Cable and Conductor briefing the media said “cable and conductors industry need to develop new technologies and products to serve the local market but the sector requires government assistance and that can be done when cost of credit is low.”

She urged government to support the industry through the provision of incentives to position the sector which will create jobs and train more skilled labour to grow the economy.

“We need incentives from government such as tax rebate so as to train more young graduates.”

She called on government to impress upon banks to reduce their lending and interest rates to promote favourable business environment.

“Government should make real its promise to invest in Ghanaians by concentrating on the indigenous manufacturers especially the cable industry to grow the cable industry which will result in opening more opportunities for Ghanaian businesses.

Mrs. Quartey-Papafio advised that government can institute a policy of ensuring that the local contractors patronise local products in the execution of contracts in the country.

She indicated that Reroy Cables Limited is considering developing new products as well as coming out with some programmes to educate the building and electrical contractors on the use of locally manufacture electrical cables.

Reroy Cables Limited started operating in the Heavy Industrial Area, Tema in the 90’s. The company produces predominantly for the international export market and has significant domestic market presence as well.

The company recently completed the construction of a new manufacturing plant, making it one of the largest electrical cables manufacturing plant in Ghana when it attained full capacity utilization in March 2007.

No comments:

Post a Comment