Ghanaian traders have been advised to reduce prices of commodities to reflect the appreciation of the Ghana Cedi and reduction in fuel prices.
General Secretary of the New Patriotic Party (NPP), Justin Frimpong Kodua made this appeal at the party’s press conference, addressing the country’s current economic situation.
With the country having seen a drastic reduction in fuel prices, reduction in transport fares and appreciation of the cedi thereof, he said, “Fuel prices have been reduced and the cedi has appreciated against the cedi. Because of this, we appeal to traders to reduce the prices of goods and services so we all enjoy the festive season.”
According to him, just like traders appealed to the NPP’s leadership to intervene on their behalf, he prays the courtesy be extended them.
He praised President Akufo-Addo and his cabinet for working judiciously to resuscitate the Ghanaian economy.
In the past week, the local currency has appreciated against the US dollar and other major international currencies culminating in a reduction in the prices of fuel.
A litre of petrol and diesel now sells at ¢13 and ¢16 respectively with the GPRTU announcing a 15.3 per cent reduction in transportation fares.
According to the Bank of Ghana, the local currency is currently trading at GH¢8 on the forex market.
Considering all this, President Akufo-Addo states that it is just fair for prices of goods and services to be reduced especially so that Ghanaians enjoy the Christmas festivities.
By: Joel Sanco
