Removal of Benchmark value: Prices of goods to increase – GUTA tells Government

The Ghana Union of Traders Association (GUTA) has expressed their disappointment with the government’s directive to reverse the 50 percent benchmark value on imports effective Tuesday, January 4.

The association has warned of an increase in prices of goods if the directive takes effect tomorrow.

GUTA reacts

President of GUTA Dr. Joseph Obeng in an interview with Mr. Speaker on Accra-based Kessben 92.9 FM noted that the directive would badly affect the livelihood of Ghanaians and urged the government to take a second look at its decision.

“The prices of goods are going to double, because the benchmark value was the last straw that businesses were holding onto, particularly, in times of COVID,” he said.

The First Vice President of GUTA, Clement Boateng, also noted that he believes the policy has not been thought through, considering the country’s current economic state.

He warned that they would have no choice but to pass the cost of goods onto consumers, urging consumers to brace themselves.

“Since the directive will take effect from tomorrow consumers should brace themselves for increase in prices,” he said.

Watch Full Interview Below…