Take additional measures to restore soaring prices of goods – Majority Chief Whip to government

Majority Chief Whip in Parliament, Frank Annoh-Dompreh has urged the government to address the current high prices of goods and services in the country.

He noted that although there is a gradual appreciation of the cedi against the dollar, people are yet to feel the impact.

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“The concern also is that while we are currently experiencing a turnaround from the depreciation, the expected economic relief is not being felt by the ordinary Ghanaian since goods are still being sold at high prices. Mr. Speaker, I make this submission, urging the Executive and its policymakers to take additional measures directed at restoring prices of food items and other goods, to sustainable levels,” the Nsawam-Adoagyiri MP said.

The inflation rate for the month of November has been recorded at 50.3%, the highest figure recorded in 27 years.

The increment was expected because of fuel price increases and the cedis’ depreciation during the month under review.

The Nsawam-Adoagyiri MP in a statement on high food prices to the Speaker of Parliament with reference to Order 72 of Parliament, said despite the current appreciation of the cedi, the average Ghanaian is experiencing no economic relief.

Order 72 of Parliament’s orders allow any MP to make a statement on a matter of urgent public importance which is first submitted to the Speaker of Parliament.

“I wish to raise a matter of urgent public concern relating to the high prices of goods and services,” the MP added.

Although he acknowledged measures taken by the government to stabilize the foreign exchange rates, a major contributor to the high price of goods, the MP said additional measures are needed to cushion the average Ghanaian.

The measures already taken by the government he said include; reduction of import of foreign goods; Staff level agreement between Ghana and the IMF, the Bank of Ghana’s monetary policy and the 2023 Budget and Economic Policy, the announcement of a Domestic Debt Exchange to sustainably manage our debt and strengthen financial stability.

The Legislator said the issue of high food prices has been on the business statement of the House for the past few weeks, as such, it is a matter of public concern.

Transport fares have still not been reduced despite a slight reduction in fuel prices at the various fuel pumps in the country.

The Ghana Private Road and Transport Union has said transport fares will only be reduced when fuel prices further reduce in the next pricing window. They argue that prices of vehicle spare parts and lubricants have been increased thus a reduction in transport fares due to a slight reduction in fuel prices is impossible.

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Source: myjoyonline.com