Business News Lift US $50,000 Bank Transfer Threshold To US$200,000 By admin Posted on November 18, 2019 4 min read 0 0 161 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr -Used Clothing Dealers Appeal To Government The Greater Used Clothing Association has appealed to government to help increase the transfer threshold from US $50,000 to US$ 200,000. The Deputy Secretary of the Association, Edward Atabrah, at a press conference indicated that currently, the US $50,000 only, they are allow to transfer through the banks for their businesses outside the country is too small, hence the need for government to help in ensuring that the threshold is lifted. He said they are mostly only able to import a single container of goods into the country with the $50,000 but when it is increased to US$200,000, it would afford them the opportunity to import more containers which would boost their trade. He said, “Currently what we are able to do with the US$50,000 that we are allowed to transfer out of the country is to import only one container. We need to expand our businesses, so the best that can be done for us now is for government to lift the threshold and increase the money to US$ 200,000.” He also talked about the timely clearance of goods from the ports and indicated that efforts must be made by government to ensure that their goods are released from the ports on time. Mr John Obiri Yeboah, Public Relations Officer of the Association said the Association has confidence in the Akufo-Addo led government and believes that their concerns would be addressed soon. According to him, the Association was appreciative of the fact that government in its 2020 budget did not introduce any more taxes. Mr John Obiri Yeboah also appealed to government to intervene to help businessmen and women whose monies are locked up in the banks. He explained that the situation has affected many businesses with some affected traders dying as result. He said government must set up a committee to see how best the locked up monies can be retrieved and paid to the customers. He also added his voice to the late clearance of goods at the port. According to him, there are specific days they sell their foods so any little delay in the clearance of their goods at the port affects their businesses. “What we are asking government to do in respect of this is to allow swift facilitation of the clearance of our goods from the port. We have specific days we sell our wares and for that reason such priority must be given to us whenever we or our agents are clearing our goods,” he said.