University of Ghana (UG) professor Ransford Gyampo has criticized individuals who exploit economic difficulties to raise prices arbitrarily, labeling them as unpatriotic and accusing them of exacerbating hardships for Ghanaians.
Speaking on TV3’s “Key Points” on Saturday, June 29, Gyampo emphasized the need for price control mechanisms to curb such practices, though he stressed the importance of dialogue in implementing these controls.
“We can’t allow unpatriotic people to continue that bogus claim of ‘are you not in Ghana’ to be inflicting hardships on Ghanaians let us not blame the politicians alone, sometimes we must blame ourselves,” he said on the Key Points on TV3 Saturday, June 29.
He stressed “People hide under the difficulty of the current situation to unnecessarily look for profit and that should be worrying to Ghanaians, that is unfair and unpatriotic.
“If the Cedi is depreciating and it must have an impact on the prices so be it but they should not hide behind the Cedi fall and hike prices
“We should have a certain price control mechanism to control unpatriotic people but in doing so we shouldn’t have KT Hammond to lead the charge such a major policy you don’t engage.
“I admit that some are taking undue advantage of the situation. I favour some price control to ensure unpatriotic Ghanains milk Ghanins dry using the hardship for the Cedi to arbitrarily increase prices but it should come about as a result of some dialogue.”
Gyampo’s comments come amid a broader debate on price hikes in Ghana.
Rev. Dr. George Dawson-Ahmoah, Executive Secretary of the Cement Manufacturers Association of Ghana (CMAG), also spoke on the program, attributing the rising cost of cement to the depreciation of the Cedi.
He explained that the increased cost of imported clinker, a key ingredient in cement production, has significantly impacted prices.
Dawson-Ahmoah criticized Trade Minister K.T. Hammond for attempting to regulate cement prices without consulting industry stakeholders, suggesting that the price hikes are a direct response to unfavorable economic conditions, not arbitrary decisions by manufacturers.
Minister Hammond defended his actions, stating that efforts had been made to encourage voluntary compliance with fair pricing but, failing that, legislative measures were necessary. He argued that the unchecked price increases and inconsistent quality of cement products were unfair to Ghanaians.
However, his attempt to introduce a legislative instrument to regulate prices was met with resistance from the Minority in Parliament, who demanded prior discussion of the proposal.