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The Ghana Union of Traders Association (GUTA) says the 10 percent
reduction in fuel prices announced by the National Petroleum Authority
(NPA) will not amount to any reduction in goods and services on the
market.
Since the reduction was announced on Wednesday, pressure has been
mounting on transport operators and traders to reduce their wares and
fares in line with the NPA's announcement.
However GUTA in an interview withCiti Newssaid its members will not
reduce the prices of their products since the cost of transacting
business has not changed.
The President of the GUTA, George Ofori said :"I am saying no [to
reduction in prices of goods] because people use the cost of old price
in determining the kind of transaction done."
He said a similar situation that occurred in relation with the
depreciation of the cedi affected the Association's operations,
saying, "it is the same thing that is happening to the US dollars to
the cedi where we had a lot of depreciation that affected us …"
Government on Wednesday announced a 10 percent reduction in fuel
prices afteri ncessant pressure from various politicaland pressure
groups but government's decision to reduce fuel prices by only 10
percent has angered various groups.
Pressure Group Occupy Ghana has for also asked the NPA to publish how
it arrived at a ten percent reduction on the petroleum products.
The group is insisting the explanation by the NPA is not enough.
Credit: citifmonline.com
