Madam Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness and Industry, has engaged the leadership of spare parts dealers and transport operators to address persistent irregularities and recent hikes in spare parts prices.
The meeting with the leadership, under the Ghana Union of Traders Association (GUTA), followed an earlier engagement with transport operators, who raised concerns over the unstable spare parts prices, which continued to affect fares and worsened the cost of living.
They noted that despite the cedi’s steady appreciation against the dollar over the past nine months, the cost of spare parts continued to rise, placing significant strain on the sector.
In response, the Minister invited GUTA, the Abossey Okai Spare Parts Dealers Association, and commercial transport operators to identify the root causes behind the sustained price hikes.
Representatives of the spare parts dealers said although prices of many car parts had reduced in recent months, parts for Sprinter buses remained high due to increased demand and limited supply, which had pushed market prices upward.
The Deputy Minister of Finance, Mr Thomas Nyarko Ampem, who was also present, underscored the need for unions to reduce the prices of goods and services in line with the recent stabilisation of the cedi.
He urged stakeholders to allow the improved exchange rate to reflect in commodity pricing.
The dealers further explained that many transport owners did not buy directly from Abossey Okai but rather through mechanics and middlemen popularly known as “Affairs,” who significantly inflate prices, creating the false perception of widespread increases.
They advised the public to buy directly from spare parts dealers to ensure value for money.
Madam Ofosu-Adjare reaffirmed government’s commitment to promoting fair pricing, transparency, and stability within the trading and transport ecosystem.
She said government was working to streamline trade policies, enhance market monitoring, and eliminate price distortions to protect consumers while supporting businesses.
The stakeholders agreed to establish a common platform to address concerns and grievances promptly without resorting to public confrontation.
The Minister reiterated her open-door policy, stressing that it was unnecessary and unfair for groups to channel their concerns through the media when direct engagement remained available.
She emphasised the need to maintain stable spare parts prices, as that was critical for economic stability, especially given their direct impact on transport fares.
Source: GNA
The post Trade Minister engages transport operators, spare parts dealers over high prices appeared first on Ghana Business News.
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