Direct traders to adjust prices now – Kofi Kapito to GUTA, others

The Consumer Protection Agency has called on trade and transport Unions to direct their members to reduce the fares and prices of goods and services as the Ghana cedi regains its strength.

Addressing a Press Conference, the Chief Executive Officer, Kofi Kapito, said the call is a just and fair request, as prices of fuel have gone down.

“When yours was going up you took advantage, fine, so now it’s coming down in our favour, we want to see some reduction,” Kofi Kapito told reporters in Accra.

He said the argument by the Ghana Union of Traders Association(GUTA) for consumers to wait for some time before prices can be adjusted is unacceptable insisting consumers must start feeling the impact of the stability of the local currency now.

“When it was time for them to increase they didn’t wait, they increased it. So when things are also in favour of the consumers, we expect them also to act with the same speed as they did when they wanted to increase,” the CPA Boss argued.

In a similar vein, President Akufo-Addo recently joined calls by Ghanaians asking manufacturers, traders, and transport operators in Ghana to reduce their prices as the Cedi stabilizes.

“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.”