GRi
Business, Economics & Finance 30 – 11 - 2002
Exporters warned to obey ban on scrap metals
export
Exporters warned to obey ban on scrap
metals export
He said there was the need for exporters to comply fully with the ban, saying that those who either directly or indirectly assist the exporters would also be prosecuted.
Dr Apraku was speaking at the presentation of 1.1 billion cedis in dividend from the Tema Steel Company to the government. The Minister of Finance, Yaw Osafo-Maafo received the cheque.
Dr Apraku said the country could not afford to allow individuals to engage in activities that could destroy the viability of the country's industries.
"We cannot carry on our activities that can be damaging to our domestic industries," he said. Dr Apraku noted that Tema Steel Company, which was in distress, is gradually being put on the path of recovery.
The Minister, therefore, called on frontline agencies such as the Customs, Excise and Preventive Service to enforce the ban to ensure that domestic industries could get their raw materials to continue with production,
Mr Osafo-Maafo pledged his support to the company to ensure that it becomes more profitable in the future. He said the government would work out mechanisms that would help resolve the problems of the company to make them active partners in the development process.
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The GSE All-Share Index, the main market index, closed trading at 1,362.65 points, with only two equities making gains. Shares that changed hands dropped again from 592,400 to 131,000 as big time investors stayed away. Change for the year was 42.55 per cent.
On the broader market, Fan Milk Limited continued its slow push by gaining two cedis at 1,778 cedis and SSB Bank edged up by one cedi at 3,963 cedis.
Market capitalisation ended at 5,108.53 billion cedis from 5,108.42 billion cedis.
The following are the last prices of listed equities in cedis:
ABL 390
AGC 18,807
ALW 3,700
BAT 1,001
CFAO 67
EIC 4,600
FML 1,778 +2
GBL 500
GCB 3,515
GGL 1,040
HFC 955
MGL 254
MLC 270
MOGL 19,721
PAF 750
PBC 390
PZ 2,001
SCB 28,002
SPPC 387
SSB 3,963 +1
SWL 285
TBL 4,550
UNIL 4,700
CMLT 460
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