Shoppers should be prepared to pay more for items they purchase during the festive season.
This is the indication coming in from businesses following the increase in utility tariffs.
[contextly_sidebar id=”ZvP6c9orP8Ik31PNVaDNiJMk51hYiHFj”]The Public Utilities Regulatory Commission (PURC) on Monday, December 7th 2015, announced a 59.2 and 67.2 percent increase in the prices of water and electricity respectively.
This came despite stiff opposition from industry players that the move was untimely.
President of the Chamber of Commerce and Industry, Seth Adjei Baah tells Citi Business News businesses will adjust their prices to remain profitable.
“Of course it is going to affect prices because what you put in is what you get in the end, if you average, prices are going to be about 30 percent or more. Definitely, prices will go up drastically and it is going to affect everybody workers will be going to advocate salary adjustments which the private sector cannot afford and there will be chaos.” Mr. Adjei Baah observed.
Earlier, the Chamber had described the PURC’s decision as shocking stating the move will be a disincentive to businesses.
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By: Pius Amihere Eduku/citifmonline.com/Ghana
