THE GOVERNMENT & THE PRICE CONTROL AGENCY
As the US dollar depreciates, many Ghanaians are celebrating the appreciation of the Ghana cedi, which benefits all Ghanaians. The cedi’s strengthening relative to the US dollar was supposed to result in lower costs for products and services, but this isn’t the case. While gas and petroleum prices have decreased, drivers are reluctant to follow the government’s requested percentage reduction, and traders are also refusing to lower their prices. When checked, the prices of cement in Assin Foso range from GHS 110 to GHS 130, and other agricultural commodities also show significant variation. These prices are inconsistent and vary widely from person to person.
Unquestionably, pricing is left in the hands of individuals, which makes life extremely difficult for customers and is detrimental to the development of a country. I have been arguing that the government should create a price control agency that would be solely responsible for fixing prices. Every time there is a price rise or decrease, this will assist in verifying pricing irregularities. Following the implementation of this rule, this organization would train the district assemblies, regional executives, and MMDCE to train their staff on how to periodically check to see if the regulations are being followed. The government and district assemblies would punish anyone who disobeys this policy.
If nothing were done to stop this persistent problem, it would be terribly sad. One would eventually be unable to do anything for themselves if they would not steal from the government, their employment (both public and private), or discover any questionable means of making money for their daily needs. However, if certain actions are taken, everyone will live in peace, which will lessen corruption across the board.
I urge President John Mahama to reconsider implementing this policy, as it could significantly impact how some individuals set their prices.
The current administration is functioning fairly well so far and ought not to rest on its oars in order to make significant innovations for the nation.
Wofa Yaw, Austin, Texas.