Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has called on the Food and Beverages Associations of Ghana (FABAG) and the Ghana Union of Traders’ Associations (GUTA) to significantly reduce food prices in response to the recent appreciation of the Ghanaian cedi against major foreign currencies.
In a meeting held on May 8 with FABAG leadership, Dr. Forson described the discussions as “frank and productive,” focusing on the economy, food pricing, and strategies to ease the financial burden on ordinary Ghanaians.
He emphasized that the cedi’s recent strengthening and the broader economic stability are not temporary phenomena but the results of deliberate, well-planned economic management.
He emphasized “I took the opportunity to assure them that the recent appreciation of the cedi and the stability we are witnessing in the economy is not a temporary or knee-jerk reaction.
“It is the result of deliberate, well-thought-out planning and prudent economic management”.
He declared “This stability is here to stay”.
The Finance Minister appealed to other trader groups, including GUTA, to emulate FABAG’s initiative and collaborate in passing the benefits of the cedi’s appreciation onto the Ghanaian public.
He wrote “I emphasized to FABAG that food prices, which had been unreasonably high, must start to fall drastically.”
“Encouragingly, they confirmed that some reductions are already happening. But we need more.”
Dr Forson added “I appealed to other traders, including GUTA, to follow FABAG’s lead and work together to pass these benefits on to Ghanaians”.
He also highlighted ongoing government efforts to address structural factors affecting prices, including port charges, levies, and smuggling, which continue to exert upward pressure on costs.
Dr. Forson remarked “We are also addressing structural issues like port charges, levies, and smuggling because we understand how these factors impact prices”.
Source :www.kumasimail.com /Kwadwo Owusu
