The Abossey Okai Spare Parts Dealers Association has rejected claims that rising spare parts prices are contributing to a planned 20 percent increase in transport fares by commercial transport operators from June 2.
According to the Association, spare parts prices have remained stable in recent months, contrary to assertions by the Ghana Private Road Transport Union (GPRTU) and other operators that escalating costs are driving the proposed fare adjustment.
Speaking to Citi Business News, the Head of Communications of the Association, Takyi Addo, insisted there has been no upward review of prices in the spare parts market.
“Spare parts prices have not been increased at all. There is 100% stability in the spare parts business. In fact, the stability of the cedi against the dollar has rather helped to keep prices stable,” he said.
Mr. Addo argued that recent gains in the local currency and relative stability in the foreign exchange market have eased pressure on importers and traders, making claims of widespread price hikes inaccurate.
“We disagree with the transport operators. They should not say they are increasing fares by 20 percent because spare parts prices have gone up. That is simply not true. Traders are happy with the current trend in the market,” he stated.
The Association further commended government’s management of the economy and the exchange rate, noting that the relative stability of the cedi over the past month has positively impacted business operations within the spare parts sector.
Mr. Addo maintained that while traders continue to call for reductions in taxes and other operational costs, current market conditions do not justify claims of significant price increases.
“If you ask me as Head of Communications for the Association, there is no increment in spare parts prices. We have stability in the market and everything is okay now compared to previous periods,” he stressed.
He also urged transport operators to engage government directly on their concerns about operational costs rather than attributing the planned fare increase to spare parts prices.
The comments come amid plans by sections of commercial transport operators to increase fares by 20 percent from June 2, citing rising operational costs, including fuel and vehicle maintenance.
ALSO READ:
Funeral turns tragic as man dies after failed motorbike stunt in…
Chinese businessman remanded for stealing T-Shirts worth GH₵3-million
