Rather than looking for excess profit, he urged traders to “all keep an eye out for the greater good.” and be measurable in the profit they seek
Be measured in your profiteering, Akufo Addo begs traders
President Nana Akufo-Addo has appealed to traders not to take advantage of the current economic bog to rip off consumers.
“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”, he said during his address on Sunday about the economy.
The president admitted the challenges brought on by the recent hikes of fuel prices, increase in transport fares, and the eroding business capital among others but urged the business community to manage the situation and be diligent in their dealings.
The president, however, lauded the ingenuity and hard work of traders, especially those that take on the distribution of foodstuffs around the country, and urged them to look out for each other and not try to make exorbitant profits out of the current economic situation.
Meanwhile, the president in his speech hinted at the closing of the bailout agreement with the international monetary fund (IMF) by the end of the year.
He believes this will help “repair the short term of public finances and restore our balance of payment while we continue to work on the medium to long term structural changes that are at the heart of our goal of constructing a resilient robust Ghanaian economy and building a Ghana Beyond Aid.”
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