Akufo-Addo Appeals To Traders To Stop Slapping Huge Margins On Prices Of Goods In Address On Economic Crisis
- The president has appealed to market women and other traders to relax the way the put huge margins on the prices of goods on the market
- Addressing the nation on measures his government is taking to tackle the "economic crisis" the president said it is important for the traders to be measured on their pricing decisions
- He also praised suppliers and distributors of goods who have ensured that there is enough products on the market despite the uncertainties
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The president has said traders who slap huge margins on the prices of their goods to beat down the effects of market uncertainties are doing the nation a great disservice.
During a national address on the steps his government is taking to defeat the economic crisis Ghana is facing on Sunday, October 30, 2022, the president urged traders to be measured in the margins they put on the prices of their goods.
“I hear from the market queens also that another factor fueling the high prices is the high margins that some traders are slapping on goods, for fear of future higher costs. I say to our traders, we are all in this together.
“Please let us be measured in the margins we seek." the president appealed.
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Nana Akufo-Addo, however, said he has great respect and admiration for the ingenuity and hard work of the traders, especially those that take on the distribution of foodstuffs around the country.
"I do make a heartfelt appeal that we all keep an eye out for the greater good, and not try to make the utmost profits out of the current difficulties,” Akufo-Addo said.
The president's appeal follows persistent complaints that prices of foodstuffs and other goods have been increasing quickly and astronomically.
The disparities in these price hikes has caused some people to suspect that the traders are setting their own prices and beat a possible effect of the fast depreciating cedi against the dollar on the prices of the goods.
The president said Ghana was facing a serious "economic crisis" that needed the support of every Ghanaian to surmount it.
High inflation, fast depreciating cedi against the dollar have eroded incomes and business capitals of many Ghanaians.
Ghana is seeking $3 billion from the IMF to check balance of trade challenges and give confidence to investors.
The president said in his address to the nation that the deal would be completed before the end of December 2022.
Poppy Fund: Akufo-Addo, Bawumia Donate GH¢100,000 to Support Veterans and their Widows
Meanwhile, Nana Akufo-Addo and Vice-President Dr Mahamudu Bawumia have contributed GH¢100,000 to the Poppy Fund.
YEN.com.gh reported in a separate story that the donation will support the completion of the veterans' clinic under construction at Amasaman in the Greater Accra Region.
The vice-president urged all well-meaning Ghanaians to donate to the Fund to support the welfare of veterans and their widows.
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