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    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

    Completely exempt individuals from DDEP over GAB agreement – Senyo Hosi to govt

    Assin State College receives Dano “Inner Strength” Award

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    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

    Registrar of Companies increases fee for business registration

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    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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Utility price hikes: Prices of goods and services to shoot up

bycitibusinessnews
December 8, 2015
in Business, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

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.

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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.

–

By: Pius Amihere Eduku/citifmonline.com/Ghana

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