Don’t take advantage of Economic Crises to Overprice Goods – GNCCI to Traders

The Eastern Regional manager of the Ghana National Chamber of Commerce and Industry, Mr Justice Kwabena Wilson, has called on traders not to take advantage of the current economic crises in the country to inflate the prices of their goods while blaming it on the government.

Mr. Wilson was speaking to Afeema FM’s journalist, Obaapa Florence Nyamekye Ceaser on the back of the current inflations and depreciation of the Ghanaian cedi, among others.

Mr. Wilson indicated that, it is not proper to deliberately hike the price of goods just to blackmail the government for underperforming through self-centered ness and greed.

He said despite the fact that majority of traders in Ghana are Christians, they mostly turn deaf ears to Christlike attitudes when it comes to pricing their goods.

He noted that the Cedi’s continues depreciation from Gh6.40ps per dollar from the beginning of the year to a rate of Gh¢15 now 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 markets for final consumers.

He lamented that most traders have now limited themselves to importing or buying less goods due to the fall of the Ghanaian currency.

Again, he disagrees with suggestions by some analysts, portraying that the International Monetary Fund (IMF) Programme will address the challenges facing THE Ghanaian economy.

According to him, IMF is just a short term solution hence the government must find lasting solutions to the 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 products through the 1D1F initiative to export more locally manufactured goods for foreign exchange.

By Obaapa Florence Nyamekye Ceaser