Ghacem Urged To Reduce Prices As Cedi Gains1 min read
A Presidential Staffer Mr Dennis Miracles Agbaogye has urged Ghana Cement (GHACEM) to reduce its prices following the strength the Cedi is gaining against the Dollar.
Per the Bank of Ghana rate, the Cedi, as of Tuesday, May 16 was buying at 10.9580 and selling at 10.9690 to a Dollar.
Following this and the projection that fuel prices are going to drop, the transport operators have reduced fares by 10 percent effective Wednesday, May 17.
Transport operators in a statement on Monday, May 15 said “In line with the administrative arrangement on public transport fares, the road transport operators have reduced public transport fares by 10 percent to accommodate for the reduction in the price of petroleum products observed over the period.”
“We further request all operators, commuters and the general public to kindly cooperate for the successful implementation of the new fares”, the statement concluded.
In a tweet, Mr Miracles Aboagye said “Dear @Ghacem_ltd, GPRTU has started doing the needful. Please follow suit and reduce your prices.
“The last time you increased cement prices astronomically, Dollar was 16cedis now it’s 11cedis.
“Fuel price was 24 cedis now it’s 11cedis. Fuel price have come down consistently for 6 months. Dollar has come down and stabilised for 6months. Transport prices have been reduced by 10%. Baby steps but positive sign. Clearly, there’s every reason to reduce the prices of cement.
