The Ghana Union of Traders Association (GUTA) has suspended its plans for members to close down their shops from Monday August 29 in protest against what they say were unfavorable government policies affecting private businesses.
Dr Joseph Obeng, President of GUTA announced the u-turn after a crunch meeting between its leadership and the Council of State, led by its chairman, Nana Otuo Siriboe II.
A joint-committee composed of members of GUTA and the Council of State has been set up to diagnose the issues, and come up with a cause of action for further deliberation and implementation.
The issues to be discussed include interest rate, exchange rate as well as the influx of foreigners within the local trading space, especially in the markets.
The committee is expected to begin its work on Monday August 29, 2022.
At an earlier press conference to announce their plans to shut down shops, the association said it had noted with concern how political communicators, including some senior government officials were blaming traders for escalating commodity prices on the market and said such acts must stop.
“They do this by calling traders all manner of names such as ‘kalabule’, profiteers, economic saboteurs, hoarders, recalcitrant and mischievous elements, and thieves who do not care about the welfare of the Ghanaian people but themselves.
“Much as we are traders, we are also consumers of other products and so we cannot surcharge ourselves with unnecessary cost when it is not legitimate,” Dr Obeng, said at a press briefing on Monday to announce the closure of shops.
He attributed the rising prices of commodities to the fast depreciation of the cedi, which he said had eroded their capital and increased their cost of doing business.
Dr Obeng said it was time government brainstormed with stakeholders within the economic sector to fashion out short to medium term solutions to the ailing economy.
He also advised against any attempt by government to increase duties at the port with the hope of raising more revenue as that would compound the precarious economic situation where inflation was as high as 31.7 per cent.
GUTA is the umbrella body of trade associations across 67 sectors of the economy and estimated to have over 2.5 million members nationwide.
SOURCE : theGhanaianVoice
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