The Committee on Trade, Industry, and Tourism of Parliament has summoned the Ghana Union of Traders Association (GUTA), the Association of Ghana Industries (AGI), the Spare Parts Dealers Association, and other industry players over their refusal to reduce prices of goods and services.
There have been growing calls for traders to lower prices following the appreciation of the Ghana cedi and the recent reduction in fuel prices.
However, the traders have maintained that they are not ready to cut prices anytime soon, as they must first clear their existing stock.
Despite their stance, Parliament has summoned them to explain their position.
Committee Chairman Alexander Gabby Hottor-Dze commented on the issue.
Last month, the Abossey Okai Spare Parts Dealers Association in the Greater Accra Region said it instructed its members to slash prices.
This action was expected to bring relief to consumers, with the expectation of a reduction in transport fares, as the majority of the parameters that determine the cost of goods and services continue to decline.
Ghana Union of Traders Association (GUTA) also hinted same in reaction to the local currency’s strong showing.
However, consumers say the cost of goods and services on the market remains high.
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