The Ghana Used Clothing Dealers Association has announced a 30 percent reduction in the cost of their goods.
According to the Association, the decision to lower the cost of its goods is due to the appreciation of the Ghana cedi and the reduction of duty at the ports.
Public Relations Officer John Obiri Yeboah stated at a press conference on Tuesday, December 20, 2022, that they paid GH¢91,600 before clearing their goods at the ports.
This was due to the dollar being used in the quotation of the duty in dollars, but we are now enjoying GH¢55, 929.
As a result, the Association has decided to reduce the price of clothing by 30%.
The Association acknowledged the ”outstanding effort of the government and the Bank of Ghana in stabilizing the value of the cedi amidst inflation crisis”.
He asked the government to continue to implement measures that will help the appreciation of the cedi and bring relief to the business community in Ghana.
He said once there has been a reduction, it was prudent for them to reduce prices.
”In view of the current positive change in the value of the cedi, we have reduced prices of second-hand clothing goods to our customers to facilitate easy buying and selling.”
He appealed to members of the Association to adjust their prices to reflect the current situation so customers would have a positive feel of the trend.
In response to questions about whether the decision was made hastily, he said no, emphasising that the current trend requires them to lower prices.
He added that if the cedi falls in value against the dollar, they will be forced to adjust their prices.
He pointed out that the Association could not compel members to lower their prices, but could only encourage them to do so
Source: rainbownradioonline.com