The Used Clothing Dealers Association in Kantamanto has responded favourably to the call for a reduction in prices of goods and services by reducing their prices by 30%.
According to leaders of the Association, there is a reduction of the cedi to dollar rate, together with a reduction in the payment of duties on imports, therefore it is only prudent to reduce their prices.
Speaking on JoyNews The Pulse on Tuesday afternoon, Spokesperson for the Association, Obiri Yeboah said “Initially, the dollar went up to 16 cedis and it kept going but currently we know within three weeks now it’s going down and once it’s dropping, we need to let it reflect on the consumer.”
“Again, with the clearance at the ports, they used the USD to calculate the duty and it was 13 USD but have reduced it to 8 USD just today. This is the reason why we also came up as executives and good citizens to let it reflect on the consumer,” he explained.
He further said that the Association is appealing to its members to reduce their prices since the Association cannot impose prices of goods.
Obiri Yeboah also stated that the Association also took this initiative to ease the pressure on customers this festive season.
In the past week, the local currency has appreciated against the US dollar and other major international currencies culminating in a reduction in the prices of fuel.
This has made many Ghanaians appeal to stakeholders and traders to reduce the prices of goods in order to lessen the pressure on the populace.
President Nana Akufo-Addo has also pleaded with the business community and industry to reduce the prices of goods and services as the cedi appreciates against major international currencies.
Speaking last Sunday during the Centenary Celebration of the Ga Presbytery of the Presbyterian Church of Ghana, he said businesses and industry should support the government in getting the economy back on track.
“I add my voice to those of GUTA, GRTCC and others, to appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one,” he said.
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