Dissolve GUTA; they are eroding purchasing power of Ghanaians – PNP

The People's National Party (PNP) has called for the dissolution of the Ghana Union of Traders Association (GUTA).

The party is accusing the union of monopolizing the retail market and driving up prices, which they claim is contributing significantly to the country's inflation woes.

In a statement issued on Tuesday, June 25, 2024, signed by its Leader and National Chairman, Janet Nabla, the PNP called on Ghanaians to kick out the union.

"It is time for Ghanaians to take a stand and kick GUTA out of our markets," the statement said.

According to the party, GUTA and its members have been abusing the free market economy to increase prices, contributing significantly to the inflation we are now experiencing in Ghana.

The PNP highlighted the price disparity as a clear indication of GUTA's exploitative practices.

"For example, a chair that costs GH¢68 at China Mall is sold for about GH¢175 by GUTA members," the party pointed out.

The PNP argued that GUTA's anger towards the Ministry of Agriculture for selling foodstuffs at lower prices while its members continue to inflate prices is unacceptable.

"GUTA’s actions are eroding the purchasing power of Ghanaians," the PNP continued, and it is clear that the union was formed with the intent to destroy this purchasing power. Therefore, it is imperative that we dissolve the union."

The PNP also accused GUTA of opposing the Ministry of Trade's efforts to review monopoly laws, which currently restrict retail trade to Ghanaian businesses.

"If they have nothing to hide, why prevent others from entering the market?" the PNP questioned.

The PNP outlined a series of measures they plan to implement should they come to power, aimed at addressing the issues caused by GUTA, including: “Establish a Regulatory Body: Create a regulatory authority to oversee and control the pricing of essential goods and services such as food, rent, fuel, healthcare, private education, and transportation to prevent price gouging.

“Review and Amend Monopoly Laws: Reevaluate and amend the constitution to revise existing monopoly laws, promoting fair competition in the market; Pass the Consumer Protection Law: Enact the consumer protection law that the 8th parliament has failed to pass, ensuring robust protections for consumers; and Run Government Retail Outlets: Set up and manage government retail outlets that offer essential goods at regulated prices."