GNCCI WARNS TRADERS NOT TAKE MERIT OF THE ECONOMIC HARDSHIP TO OVERPRICED GOODS

The Eastern Regional Manager of the Ghana National Chamber of Commerce and Industry Mr Justice Kwabena Wilson has called on traders in the Country not to take advantage of the current economic crises to inflate the prices on their goods and blame inflation on the government.

Mr Wilson was speaking on the back of the current inflations and depreciation of the Ghanaian cedi.

Mr. Wilson indicates that, it’s not proper to deliberately hike the price of good just to blackmail the government for underperforming through self-centered ness and greed.

He bemoaned that, despite majority of traders who are worshippers, they mostly turn deaf ears to Christlike attitude for their pricing.

He commented that the cedi continue to depreciate from gh6.40ps per dollar from the beginning of the year to a depreciation rate of gh¢15, adding that the cedi is negatively affecting both importers and exporters on their business.

Mr. Wilson mentioned that, the strength of Ghana’s currency determines the quantities of goods that could be purchased on both local and international market for final consumers.

He lamented that most traders are limited to import or buy less goods due to the fall of the Ghanaian currency.

Mr Wilson again disagrees with suggestions by some analysts, portraying that the International Monetary Fund Programme will address the challenges facing the economy.

According to him, IMF is just a short term solution hence govt must find lasting solution to economic crises with aggressive industrialization such as the 1D1F, planting for food and jobs, rearing for food and export and provide financial support for local export companies.

He applauded the government for embarking on producing more domestic product through the 1D1F initiative to export more locally manufactured goods for foreign exchange.

He encouraged the government to also implement and support the local business to sustain the economy.