Government to check unfair price hikes
The Minister of Trade, Industry and the Presidential Special Initiative, Joe Baidoo Ansah says government would be compelled to control the prices of goods if traders continued to cheat customers.
He said some companies have formed a cartel, which determines the prices of certain goods at the detriment of the consumer.
The Minister made the comment when he paid a working visit to the Ghana Community Network Services and Gateway Services Limited to find out why prices of some imported goods shot up during the Christmas season.
The visit revealed that import duties and taxes had not appreciated in the last three months.
Some importers however attributed the situation to the increase in customs duty.
According to officials of GCNET, some companies under-declare the prices of their goods and sell them at exorbitant prices. The Minister warned that companies found guilty of under declaring their goods would be death with according to the law.
Source: GBC NEWSSGS
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