New transport fares will be an add-on to the layer of cost – GUTA president

• The GUTA president believes that the new transport fares will affect the cost of doing business

• He said goods and services are already going up because of the global effect of the pandemic

•He said increment in transport fares will only be an addon layer of cost to the living standards of Ghanaians

The president of the Ghana Union of Traders Association (GUTA) Dr Joseph Obeng has stated that the new transport fares will only add another burden to the already disturbing economy of the country.

He said prices of goods are already expensive on the market and this new directive will only add-on to the cost of living in the country.

“Goods and services are already going up because of the global effect of the pandemic, freights prices are going up and then world commodity prices are also going up, so any layer of cost adds up to the costing. So, in effect, this will be an add-on to the layer of cost. How significant it is or negligible depends on the public to determine,” he said in an interview with GhanaWeb’s Amos Ekow Coffie.

He noted that for those who deal with capital intensive goods, transportation is negligible.

“Transportation for bulk haulage is negligible for capital intensive items but when somebody is buying food items maybe from Techiman and all that, it is essential on their costing. In doing business you have to add all your expenses that will affect your costing so once it is an element of expense definitely, it will be factored into cost but whether it is significant or insignificant depends on the time,” he added.

Meanwhile, the new increment in transport is said to take effect from Saturday, June 5, 2021.