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We will reduce prices by significant margin if shipping charges are reviewed – GUTA

 The Ghana Union of Traders Association (GUTA) has assured that its members will move quickly to reduce prices of goods if government is able to deal with high shipping charges and fees at the ports.

The current high shipping charges and fees, according to the traders, has been a major influence in determining prices of goods on the market.

The traders have applauded government for taking steps to ensure that shipping lines reduce their charges in line with charges in the West African region.

The 1st Vice President of the GUTA, Clement Boateng disclosed this on PM EXPRESS BUSINESS Edition with host George Wiafe on the Topic:  “Mid-Year Budget Review and Expectations of Private Sector.”

Shipping charges concerns

President John Mahama recently directed Transport Minister, Joseph Bukari Nikpe, and the Attorney-General and Minister of Justice, Dr. Dominic Ayine to take necessary steps to address unauthorised shipping charges at the ports.

The President’s action, was influenced by several complains from businesses about unapproved fees and charges at the port.

Boateng described the president’s action as prudent and in the right direction.

He revealed that most of the shipping lines charge high fees for businesses in Ghana, compared to what is charged in Togo, Benin, Ivory Coast and Nigeria.

 This is not fair and it has to stop. That is why we fully back the action by President John Mahama”, he said.

Cedi Appreciation and Pricing concerns  

Mr. Boateng announced that GUTA members have commenced a second round of price reduction for some goods.

He added that some traders have also moved to reduce prices of spare parts, which delayed a little due to traders observing the sustainability of the cedi’s gain.

Boateng revealed that spare parts dealers have reduced some items that used to cost about GH₵1,500 to GH₵1,200.

I can promise you that when you go to the market, you will realize that items have gone down in line with our promise to adjust prices from July this year”, he affirmed.

He advised, consumers to “shop around” to force traders to further reduce prices.

Boateng rejected arguments that most locally owned businesses are not reducing their prices in line with the cedi’s appreciation.

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