Ken Ofori-Atta, the Minister for Finance, has said government does not have any intention of introducing price control to help stabilise the prices of goods and services in the country.
Ransford Gyampo, an associate professor in the political science department of the University of Ghana has suggested to the government to introduce what he describes as” near price control.”
Gyampo believes this will help alleviate the plight of consumers following the recent hike in prices of goods on the market.
“Times are hard but this must not be licentious for unpatriotic people to inflict more hardships by charging exorbitant prices on everything. I call for some monitoring and near price control, as the market forces aren’t working,” he posted on Facebook.
However, reacting to the development at a news conference in Accra on Thursday (12 May) Ofori-Atta said “Price controls are very difficult things. I think it completely derailed Nkrumah’s policy. It leads to favouritism…”
“And we don’t want to get rid of all of that, sort of control your life … and then somebody gets to import and doesn’t import; you are unleashing something that you may not want to experience again.”
“So how do we get through this, believing that if we were able to find resources for the Ghanaian to do their work, that will then introduce productivity,” Ofori-Atta added.
Fred Dzakpata
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