Prices of pre-school and basic school textbooks to go up
The transactions for the books will also be on cash and carry basis for supply companies and institutions.
Mr John Akwasi Amponsah, President of the Association was speaking at a press conference in Kumasi on Friday, also said the decision had come about as a result of the current economic situation in Ghana and its devastating effects on businesses and livelihoods.
He said the economic hardships was impacting negatively on the publishing industry and it was important to alert the public on the increases in the prices of books as well as the standardised discount policy for suppliers and distributors.
Mr Amponsah said schools purchasing materials on cash and carry basis would now enjoy 15 percent discount, schools purchasing materials on credit basis would have 10 percent discount, while bookshops purchasing books on cash and carry, shall have 25 percent discount.
He said bookshop operators purchasing books on credit basis shall enjoy 20 percent discount, while whole book distributors would have 25 percent discount on the books distributed.
Mr Amponsah also said all credit worthy clients which included schools, bookshops and distributors dealing with them on credit basis, shall have a credit period of 30 days to make full payment.
According to him, given the current economic challenges facing the books and printing industry, books publishers stood the risk of losing value on investment capital should the credit facilities extend beyond the 30 days period.
The situation, he said would affect the chain of production for both importers and paper printers of books.
He said the measures taken could help sustain both publishers and clients, save the industry from dying and make parents and guardians contribute meaningfully to children’s education.
Mr Amponsah explained at the conference that, some macro-economic indicators such as high exchange rate, had been hampering the smooth running of the books industry.
He said “the current inflation rate of Ghana at 37.2%, obviously brings about increase in the cost of goods and services.
As a result, the cost of essential accessories and other inputs needed for book development becomes affected and make the industry unattractive to continue to invest in it”.