Trade Minister engages GUTA, transport operators over rising spare parts prices

The Minister for Trade, Agribusiness and Industry, Mrs. Elizabeth Ofosu-Adjare, has held a meeting with the leadership of the Ghana Union of Traders Association (GUTA), spare parts dealers, and transport operators to address persistent irregularities and the recent hikes in spare parts prices across major markets.

The engagement follows an earlier meeting with transport operators over concerns that unstable spare parts prices are affecting transport fares and worsening the cost of living.

Mrs. Ofosu-Adjare reaffirmed the government’s commitment to ensuring fair pricing, transparency, and stability within the trading and transport ecosystem.

She emphasized that the government is working to streamline trade policies, enhance market monitoring, and eliminate price distortions to protect consumers while supporting businesses.

The Minister reiterated her open-door policy, stating that it is unnecessary and unfair for groups to channel their concerns through the media when direct engagement with the ministry remains accessible.

She stressed that maintaining stable spare parts prices is critical for economic stability, especially given the link between spare parts costs and national transport fares.

The Deputy Minister for Finance, Mr. Thomas Nyarko Ampem, also touched on the need for unions to reduce the prices of goods and services in line with the recent stabilization of the cedi, urgeing stakeholders to reflect the improved exchange rate conditions in their pricing.

Representatives from the association explained that while prices of many car parts have reduced in recent months, parts for Sprinter buses in particular remain high due to increased demand and limited supply, which has pushed market prices upward.

The parts dealers further highlighted that many transport owners do not buy directly from Abossey Okai but rather through mechanics and middlemen, popularly known as “Affairs,” who significantly inflate prices, and that creates the false impression of market-wide increases.

They advised the general public to shop directly to ensure product quality and protect their incomes.