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05 July 2017

PRICE WAR: Francopat fingered in protest against White Stones Foods

Officials of White Stone Food Company Limited say they suspect a grand scheme by some importers of frozen foods, to denigrate their operations.

Some frozen food importers recently trouped to the Customs Division of the Ghana Revenue Authority to protest against the recent decision to grant White Stone Foods Company Limited Customs Advance Ruling on Valuation.

White Stone Foods Company Limited is leading importer frozen foods in the country.

The protestors had claimed the decision by the Customs Division of the Ghana Revenue Authority will make White Stone Foods monopolize the market and enjoy an unfair pricing to the disadvantage of its competitors.

But a management member of the Customs Division of the Ghana Revenue Authority who wants to remain anonymous noted in an interview that the Customs Advance Ruling on Valuation is backed by Section 12 of Act 891.

White Stone Foods Company Limited, Kasapafmonline.com understands, had been operating for over three decades until June 8, 2017, when it was granted the Customs Advance Ruling on Valuation.

Checks with the GRA revealed, another major importer, Francopat Company Limited, which is a key suspect in the grand agenda to sabotage White Stone Foods, was also granted the same facility on June 22, 2017.

Kasapafmonline.com can confirm that Francopat has been enjoying the facility over the last eight years.

Customs Advance Ruling on Valuation is a binding decision by Customs at the request of the importer concerned on specific particulars in relation to the intended importation or exportation of goods.

Customs Advance Ruling on Valuation can be requested with regard to either the classification, origin or the Customs value of the goods in preparation for importation or exportation.

The facility is renewable based on the valuation conducted by the Customs Division on the said product.

It is only granted to importers who have over the years shown commitment to the state by paying their required import duties appropriately and on time.

 

Customs officials say they do not understand why Francopat Company Limited would join the protest over the granting of the facility to White Stone Foods, while it has been enjoying the same facility for some years now.

The post PRICE WAR: Francopat fingered in protest against White Stones Foods appeared first on Kasapa102.5FM.

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