President Nana Akufo-Addo has assured the good people of Ghana of progressive efforts to get the economy back in good shape and increase the standard of living.
Among many measures taken, President Akufo-Addo has revealed his government is working to secure reliable and regulars sources of petroleum products for the Ghanaian market.
This has become necessary as the cost of goods and services has skyrocketed which is being driven by fast escalating fuel prices at the pumps coupled with the depreciating cedi.
Currently, petrol is selling at GHS 17 per litre and diesel for almost GHS 19.
President Akufo-Addo stated he is aware that the increment has led to the devaluation of capital of traders and painfully accumulated savings.
Consequently, the President noted in his Sunday evening address to the nation that arrangements are being made to secure reliable and regular sources of petroleum products.
It is expected that this arrangement, when successful, coupled with a stable currency will halt the escalation of fuel prices and bring relief.
Additionally, the President admonished traders slapping high margins on goods for fear of higher costs to take notice of the plight of the country and act accordingly.
“I hear from the market queens also that another factor fueling the high prices is the high margins that some traders are slapping on goods, for fear of future higher costs. I say to our traders, we are all in this together. Please let us be measured in the margins we seek.
“I have great respect and admiration for the ingenuity and hard work of our traders, especially those that take on the distribution of foodstuffs around the country, and I would hesitate to join in calling them names. I do make a heartfelt appeal that we all keep an eye out for the greater good, and not try to make the utmost profits out of the current difficulties.”
President Akufo-Addo hopes by the end of the year and ultimately in the next six months, the necessary measures will bring relief.
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