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Skyrocketing Of Prices Of Goods And Services, Price Control Is Out Of The Equation – Ofori-Atta

Amid the skyrocketing of the prices of goods and services that is suffocating and making life difficult for many Ghanaians, the Finance Minister, Ken Ofori-Atta, has ruled out government’s intervention by way of price control.

He says that is out of the equation, they have no plans for doing that and that price control is a difficult thing to do.

It tends to engender favoritism, “sort of control people’s lives and then somebody gets to import and does not import, you are unleashing something that you may not want to experience”.

The way out of the situation, he explains , is to find resources for people to do their work and fuel productivity.

There have been calls to the government to step in to save consumers from heartless and wicked traders hiking the prices of goods at breakneck speed to make more money to live well.

Professor Ransford Gyampo, a political science lecturer, has suggested the introduction of “a near price control” to get traders to become more reasonable and stop them from cheating and overexploiting the consumer.

Prof Gyampo in a Facebook post wrote; “Times are hard, but this must not be licentious for unpatriotic people to inflict more hardship by charging exorbitant prices on everything.

I call for some monitoring and near price control as the market forces aren’t working.”

The country’s economy which was doing so well and was among the fastest growing in the world and received high ratings by the international rating agencies is now hemorrhaging, after the flu-like virus pandemic struck.

The going has become tough and public sector workers are threatening industrial unrest.

They are demanding that their salaries should be indexed on the country’s inflation rate. Dr. Anthony Yaw Baah, Secretary General of the Trade Union Congress, has warned that if the government does not listen to them they will do what the labour union does.

Content created and supplied by: KyeretwienanaOseiBonsu (via Opera News )

Ken Ofori-Atta

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