By Emmanuel Gamson
Takoradi, April 14, GNA – Some businesses in the Sekondi-Takoradi Metropolis of the Western Region have called on the government to institute price control mechanisms on goods and services to reflect the recent appreciation of the cedi against some major international currencies.
This, they said, would help bring down the prices of commodities and cost of doing business, and ultimately lower the cost of living for the citizenry.
They made the call when the Ghana News Agency (GNA) toured the Central Business District of Takoradi to seek their views on the impact of the cedi appreciation on their businesses.
Mr Samuel Boamah, Chief Executive Officer (CEO) of Urban Wheels Port, dealers in auto spare parts, said though the cedi had gained some strength against the major international currencies, prices of commodities remained high.
He said: “I have seen that the US dollar is coming down, but I have not felt anything yet, because prices of goods and services are still the same. Nothing has changed.”
While commending the government for the gains made, he asked the authorities to intervene in ensuring that the cedi appreciation reflected in the lives of the ordinary Ghanaian.
“For us to feel the positive impacts of the exchange rates in our pockets, I think the government must take action and regulate the pricing system in the country, so that we can reduce cost of doing business, and lower prices of goods and services on the market,” Mr Boamah noted.
He also called on the government to devise strong monetary policies to sustain the cedi appreciation to help grow the economy for development.
Mr Desmond Tyro, CEO of Mayor’s Tap, dealers in mobile phones, and computers and accessories, stated that the cedi appreciation had not had any significant impact on the prices of basic commodities like food, clothing and others on the markets.
He said: “We are happy that the cedi is gaining some form of strength against the dollar but when you go the market, prices of goods and services remain high, which is a worry.
“So, I will urge the government to do something about this so that the ordinary Ghanaian can also feel this economic progress in their lives when they go to buy some basic items on the market.”
Some individuals and businesses also shared similar positions on the economy saying such move would help spur rapid socio-economic growth in the country.
GNA
MSM/AD