Expectations of a reduction in the prices of goods on the market were high following the appreciation of the cedi and the subsequent fall in the price of petroleum products.
However, the Importers and Exporters Association of Ghana is warning Ghanaians to be measured in such expectations.
According to Executive Secretary of the Association Samson Awingobit says heeding to such calls at this time will not augur well for traders since some importers had bought their goods at certain prices and paid duty on them before the cedi started appreciating.
Following the developments, there have also been calls from the government on Trade Unions and especially traders to reduce the prices of their products.
But addressing the concerns in an interview, Mr Awingobit noted that it is not within the confines of the government to make such calls.
He contended that the market should be allowed to determine whether to reduce prices or not.
“We cannot sit down and claim that all was well when all was not well. I strongly believe that in this current dispensation, we need to know that the dollar has started gaining ground again,” he said.
He further asserted that there is now no dollar available to those in need of it.
He found it odd that the cedi rose in value versus the dollar in December because that is when firms require more money to conduct business. He, thus, has requested that the administration show up and inform the populace of how this was possible.
Source: The Independent Ghana