Majority begs traders to reduce prices

The Majority in Parliament has reiterated calls on traders to consider reducing the prices of goods following the appreciation of the cedi.

The cedi within the last few days has been appreciating against the dollar, with a cross-section of the public demanding the reduction of prices of goods and services to reflect the current situation.

Speaking to Citi News, the Deputy Majority Leader of Parliament, Alexander Afenyo-Markin called for a collaborative effort in reviving the economy.

“I heard the GUTA President calling on members to reduce prices. I will repeat the same call to the business men and women, entrepreneurs and traders. If it was out of uncertainties and the currency market, you felt that you should increase prices for your goods, today things have changed. It is by reducing them that we will all benefit from the economy. So it is my humble appeal that prices are reduced so that the ordinary Ghanaian can afford”, he explained.

Already, President Akufo-Addo has also appealed to the business community to reduce the prices of goods and services as the cedi regains its strength.

Prices of fuel are also recording substantial reduction. According to the Bank of Ghana, the local currency is currently trading at GH¢8 on the interbank market with a litre of petrol and diesel selling at GH¢13 and GH¢16 respectively.

In view of this, President Akufo-Addo says, it is just fair for prices of goods and services to be reduced, taking into consideration, the gains the cedi is recording.

“I add my voice to those of GUTA, GRTCC and others, to appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one.”