Expressing concerns about the survival of the manufacturing sector in the new year and beyond, the employers’ body said the re-introduction of the tax will lead to further stifling of businesses.
It stated that the economic situation, which necessitated the suspension of the excise in 2009 has not abated, but is rather, worse. It lamented that businesses currently face greater hardship than what obtained in 2009. According to NECA, at a time like this, globally, governments continue to provide incentives for industries to speed up recovery from the shocks of COVID-19 pandemic, inflation and escalating costs.
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