Worrying Businesses to collapse over utility hikes - GCCI

According to the Ghana Chamber of Commerce and Industry, the decision to increase utility tariffs is shocking as already some companies have laid off workers as a result of irregular power supply.

  • Published:
President of the Ghana Chamber of Commerce and Industry (GCCI), Seth Adjei Baah play

President of the Ghana Chamber of Commerce and Industry (GCCI), Seth Adjei Baah

24/7 Live - Subscribe to the Pulse Newsletter!

Businesses are likely to fold up following recent increment in utility tariffs, President of the Ghana Chamber of Commerce and Industry (GCCI), Seth Adjei Baah has said.

According to him, the decision to increase utility tariffs is shocking as already some companies have laid off workers as a result of irregular power supply.

“We are shocked and surprised because as at now, most people are not breaking even and I know places people are contemplating shutting down. To raise electricity prices by over 50 percent and water by over 60 percent, tells us that we should stop doing manufacturing and fold our arms. It is quite unfortunate and we think it is indirectly collapsing our businesses," he told Accra-based Citi FM.

The Public Utility and Regulatory Commission Monday announced hikes in electricity and water tariffs.

Electricity has been increased by 59.2 percent while water has been adjusted by 67.2 percent.
This was however against a proposed increase of 128.6 percent by the ECG and a 400.2 percent increase by the Ghana Water Company Limited (GWCL).

Factors considered by the Commission before approving the increments are: Consumer Interest; Investor Interest; Economic Development of the Country; The Generation Mix; Fuel Mix; Availability of the Service; Growth in Demand; Power Purchase Cost (IPP); Revenue Requirement (to ensure Financial Viability of the Utility Service Providers); Cedi Dollar Exchange Rate

In spite of these reasons, Seth Adjei Baah said the move is rather unjustifiable, adding that “we are talking about consuming made in Ghana goods and it comes with prices; and these are the indications that are going to add up to the cost so that we do not become competitive. If that is happening, then we have a challenge on our hands.”

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos





Top Articles

1 Fraud Three Ghanaians arrested over £5million romance fraudbullet
2 Ghana Armed Forces GAF announces date for 2017/18 recruitment screeningbullet
3 Adult Content We will continue showing porn on TV - Ice TVbullet
4 Freemasonry Here are prominent Ghanaians who are also freemasonsbullet
5 Volta Region FDA says Kpando residents knew consuming Pufferfish...bullet
6 Ghana Police Service IGP reshuffles top officersbullet
7 Sex Workers Chinese prostitutes invade Wassa Akropong;...bullet
8 National Service New allowance will be paid after 2017...bullet
9 Ghana Police New IGP makes first shake-up in Police...bullet
10 James Kwegyir Aggrey Who is the face on Ghana's new 5...bullet

Top Videos

1 Video Four suspects arrested for Captain Mahama's deathbullet
2 Prophecy Hundreds will die in floods in 2017 – Prophet revealsbullet
3 WATCH Kennedy Agyapong dances wildly to hip hop song in hilarious videobullet
4 Watch Video I lick my wife before going to preach - Kumchacha...bullet

News