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The Abossey Okai Spare Parts Dealers Association in the Greater Accra Region has directed its members to lower prices, so car owners and transport operators should expect to witness a decrease in spare part costs in the days ahead.
Following notable increases in the cedi’s value relative to other major international currencies, particularly the dollar, the organization directed its dealers to take this move.
Given that most of the factors influencing the price of products and services are still declining, consumers should benefit from this measure, which is expected to result in lower transportation costs.
The dollar’s depreciation in recent weeks due to geopolitical circumstances and the Mahama government’s major efforts to stabilize the local currency have made this possible.
The government has been commended by the association for its audacious and decisive measures to fortify the local currency, including boosting reserves and exporting more gold through the recently established Godbod.
“We pledge our full collaboration with the government to sustain this positive trend and ensure further appreciation of the Cedi, bringing much-needed economic relief to Ghanaians,” said the Chairman of the Association, Mr Henry Okyere Jnr.
He also pleaded with all members to follow the order to lower the pricing of the inventory.
It is anticipated that this will strengthen their shared dedication to reasonable prices and stable markets.
Elizabeth Ofosu-Adjare, the Minister for Trade, Industry, and Agribusiness, spoke with traders prior to the cutbacks and urged them to modify their prices to reflect the most recent information.
The Ghana Union of Traders Association (GUTA) was commended by Madam Ofosu-Adjare for stepping forward to discuss potential price cuts with its members.
“I commend GUTA for even taking the step to prevail on the traders to reduce the cost of their goods. So I think at that meeting, we will brainstorm and come to a very good conclusion which will benefit both traders and consumers,” she added.
Source: Ghanatodayonline.com
