The Asanteman Co-operative Distillers and Retailers Central Union Limited has made a total income of 136.9 million cedis for the 2002 fiscal year as compared to 140.4 million cedis in 2001 from its pension scheme.
The Union’s total expenditure for this year so far was 129.3 million cedis as against 125.7 million cedis in 2001 and it has already collected 267.5 million cedis as member’s contribution towards the scheme this year.
Nana Akuoko Kwarteng, President of the union, who said these at the 13th annual general meeting of the union at Kumasi on Friday, stated that the scheme was a form of insurance for members.
Nana Kwarteng said the union paid 19.5 million cedis as Value Added Tax (VAT) in 2001 as against 18.4 million cedis this year and also paid 13.2 million cedis as income tax for 2001 and 12.2 million cedis for this year.
He said the savings and credit unit of the union had collected 118.9 million cedis in the past four years while loans totalling 26.9 million cedis had been given out to members.
Nana Kwarteng said the shortfall in revenue generation and in the payment of VAT and income tax was due to the emergence of splinter groups in the ‘Akpeteshie’ industry and asked the revenue agencies to cast their net wide in collecting taxes.
In his report, Mr J.B. Donkor, Regional Secretary of the union, expressed dissatisfaction that some religious bodies, musicians, actors and actresses and presenters on radio stations condemned the sale of akpeteshie.
He wondered why they did not do that in respect of drinks like Castle Bridge, Gordon’s dry gin, Whisky, Schnapps, Kasapreko dry gin, and Alomo bitters among other that are on the market.
Mr Donkor said people should make suggestions on how the Akpeteshie industry could be developed to give meaning to government’s efforts at assisting local industries.
Source: GhanaWeb
