The reintroduction of the Special Import Levy has sparked controversy in Parliament, with Dr. Mohammed Amin Adam, the Ranking Member on the Finance Committee and former Finance Minister, strongly opposing the move.
During the parliamentary debate on the 2025 budget estimates on March 26, Dr. Amin Adam condemned the decision, arguing that it betrays the trust of Ghanaians and contradicts the government’s previous commitments to ease financial pressure on businesses and citizens.
According to Dr. Amin Adam, reinstating the Special Import Levy will increase costs for importers, ultimately leading to higher prices of goods and worsening economic hardships for ordinary Ghanaians.
“This government assured the people that it would find alternative revenue sources instead of imposing additional taxes. Yet, what we are seeing today is the opposite,” he lamented.
He further criticized the government’s lack of broad stakeholder engagement, stating that key industry players and economic experts were not consulted before the policy was announced.
Despite the backlash, the Finance Minister defended the levy, arguing that it is crucial for revenue stability and will help fund essential government programmes. He assured that measures would be taken to cushion vulnerable groups from its impact.
However, Dr. Amin Adam remained unconvinced, urging Parliament to reject the policy in the interest of economic fairness and sustainability.
“This is not the time to further burden struggling businesses and citizens. The government must rethink its approach to revenue generation,” he concluded.
The debate over the Special Import Levy is expected to intensify in the coming weeks as Parliament continues to scrutinize the 2025 budget proposals.
