The Textile, Garment and Leather Employees Union (TEGLU) is demanding that the cost of utilities be slashed by 50 percent.
It is also demanding the removal of VAT on locally produced textile prints to save local textile manufacturing companies from collapse.
According to TEGLU, local textile manufacturing companies have sent home about 90percent of their workers due to the influx of pirated wax prints, high taxes and statutory levies as well as high cost of raw materials and utilities.
General Secretary of TEGLU, Abraham Koomson, told Starr Business that textile workers will soon hit the streets if government does not reconstitute a taskforce to enable it visit point of sales and make arrests.
“As we speak the taskforce is only restricting itself to the entry points. And that is not working. The pirated wax prints are all over and the industry is collapsing. Some of the companies have not paid their workers for November, December and January. The situation is terrible. So we are preparing to hit the streets in the next few weeks if nothing changes,” he said.
Mr. Koomson also predicted that the tax stamps being introduced by the Ghana Revenue Authority to check the dumping of products in the markets will fail unless the implementation is devoid of experimentation.
With a workforce of about 27,000 in the 1970s the local textile industry is now employing about 3,000 people due to several debilitating factors.
Public institutions, others receive over Ȼ80,000 investment from Polytank Ghana
More than ten thousand Ghanaians in various communities and public institutions have benefited from Polytank Ghana’s policy of helping improve access to water.
Spending over Ȼ80,000 in tank donations to marginalized areas and groups, Polytank Ghana’s benevolence has impacted institutions as the Ghana Prisons Service, the Ghana Police, some Fire Service stations, Educational institutions, international NGOs, rural communities, among others.
Being the lead producer of durable water storage tanks in Ghana, Polytank believes that access to clean water for all humans must be viewed as a right.
The role of clean water in ensuring good health, proper sanitation and improved livelihoods is a daily reality.
Polytank Ghana, a subsidiary of the Mohinani Group has adopted as a cardinal principle, a quote former UNSecretary-General, Kofi Anan, who said: “Access to safe water is a fundamental human need and therefore a basic human right”.
Executive Director of the Group, Mr. Ashok Mohinani, emphasised: “the Group’s commitment to assist the government meet the global climatic challenge of ensuring sustainable access to clean water, is a way of giving back to the communities in which we operate.”
“Water is not just life but a basic human right which needs to be preserved and not wasted. Our business Group gives these storage tanks to people who have limited access to clean water in order to manage the little they have to consume”.
He said: “It is our hope that these gestures will go a long way to improve the health and general wellbeing of the beneficiaries.”
“As we mark World Water Day today, we are happy to reiterate our company’s commitment to invest in quality and affordable water management products that will help ensure that more Ghanaians have improved access to clean water always no matter where you live”.
Touching on this year’s theme, “Nature For Water,” Mr. Mohinani encouraged all Ghanaians to desist from actions that have adverse effects on the country’s freshwater resources, pledging the company’s resolve to adopt more environmentally friendly methods in it operations.
BREAKING NEWS: BoG takes over Unibank
The Bank of Ghana has announced it has taken over the management of private bank, Unibank.
The Governor of the central bank explained at a press conference, the takeover is due to challenges facing the bank. He mentioned weak supervisory standards and weak operations as the cause of the challenges.
Ernest Addison said the bank, last year, provided inaccurate data during the central bank’s effort to resolve the problems
He assured depositors their money is safe, stressing “we are not liquidating the bank, we are saving it.”
The take-over comes weeks after Unibank announced it was taking over adb.
Facebook’s value plunges $37bn on data controversy
Facebook shares took a big hit Monday, shaving about $37 billion off the value of the company.
The stock tumbled about 7% Monday on news that data firm Cambridge Analytica, which had ties to Trump’s campaign, reportedly accessed information from about 50 million Facebook users. This is the stock’s biggest drop, on a percentage basis, in four years.
Even after Monday’s plunge, Facebook is still one of the nation’s most valuable companies, with a market cap of about $500 billion. It’s behind only Apple (APPL), Google parent Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT) and about even with Berkshire Hathaway (BRKA).
Mark Zuckerberg holds about 400 million shares of Facebook (FB), and his net worth plunged by about $5 billion Monday afternoon. Shares closed the day down $12.53.
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