By Sambiru Duut
Elijah/Nuo Evans, GNA
Wa, July 15,
GNA – Cement dealers in Wa have blamed rising cost of the item and other
building materials on increasing fuel prices and weak foreign exchange
fundamentals which have seen the Ghana cedi slumped against major foreign
Scores of the
dealers speaking to the Ghana News Agency said the current economic conditions
being experienced affected businesses badly and called for austerity measures
to protect struggling local businesses.
them, little or no sales at all were sometimes recorded in several days and
called on government to reduce prices of fuel and cut down on taxes.
Hafiz, a Salesperson at Kanyirl Movam Company, said the company used to make
more sales at the beginning of the year, but the exchange rate between the cedi
and the dollar had worsened affecting daily sales and fuel prices.
He said a bag
of cement in the first three months of the year used to cost around GH¢37.00
but it was going for GH¢40.00 by the end of June.
A ton of iron
rods that was being sold at GH¢3,200.00 had increased to GH¢3,420.00 with a
packet of zinc which cost GH¢300.00 in the past few months had increased to GH¢330.00.
The price of
plywood increased from GH¢28.00 to GH¢30.00 which was said to have been largely
influenced by transportation cost and multiple taxes.
Mr Kofi Oscar,
Salesperson at Baseble Ventures, attributed the poor business performance to
poor economic management, low value of the Ghana’s currency to foreign major
trading currencies and high interest rate charges by local banks.
He appealed for
reduction of fuel prices and import dues as wells increased efforts in creating
more jobs to increase income of people and stimulate demand.
He quoted a box
of one inches and one and half inches of nails at GH¢60.00 while a box of two
to seven inches nails cost GH¢47.00, which he said remained stable over the
period but sales kept dropping.
of the oil paint was selling at GH¢16.00, the big container sold at GH¢63.00,
with the small emulsion paint sold at GH¢30.00 while the big container of
emulsion paint was sold at GH¢60.00 at various shops visited by the GNA news
A shop owner of
GHACEM cement retail shop in Wa who spoke on a condition of anonymity chastise
leaders of Trade Union Congress (TUC) for folding their arms while their
He said Banks
have been chasing him over unpaid loans he took to invest in his business but
“profit seized coming”.
He pleaded with
government to reduce taxes and interest on loans to enhance business
how he reported tax officials who collected money from him as tax but refused
to give him receipt while others issued fake receipts to traders and diverted
funds into their personal gains.
reported this case to leadership of the TUC but they pretended everything was
okay, because they do not want to do anything that would tarnish the image of
government,” he said.