The Ghana Union of Trader’s Associations (GUTA) has disclosed that the business community does not take delight in arbitrary increases in the prices of goods and services.
According to the association in a press release dated January 8, prices of goods and services are actually determined by the accumulation of the cost of doing business in the country, about which members of the business community have been complaining bitterly all these years.
This comes after, Minister of Trade and Industry, K.T Hammond, expressed dissatisfaction with the increasing prices of goods in the market, with a particular emphasis on the price of cement.
Due to this, the association lamented that the minister should have engaged with cement producers to find out the reason for the increase before publicly criticizing the price hike.
The Association emphasized that business communities do not find amusement in increasing prices of goods and services in the country, instead blame the surge in the costs of doing business in the country as the main factor behind the rising prices, emphasizing issues such as high tariffs, shipping fees, transportation costs, and utility tariff regimes as impacts on the final price of goods.
GUTA is calling on policymakers in goods and services to reduce the cost of duty fees on goods, including shipping line charges, transportation costs, and utility tariff regimes.
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