High exchange rate suffocating our busines –Spare parts dealers


The Abessey Okai Spare Parts Dealers Association has appealed to government to work hard to reduce the high exchange rates in the country.

In an interview with the National Organizer of the Association, Mr. George Kwadjo Asiedu, told a reporter from Journalists For Community Development (JCD) that the number one challenge of the spare parts industry is the high exchange rates.

He said the industry has suffered a great deal as a result of the high intetest rates, saying if the situation is not checked, it could cause a total collapse to the industry. He maintained that the situation is worsening on a daily basis, and is resulting in direct increases in spare prices.

According to him, the success of the spare parts industry in Ghana mainly depends on the strength of the cedi He said the cedi has for many years fallen to the international currencies, saying the situation has made it difficult to import goods into the country.

According to him, if exchange rates go down, dealers will reduce prices for more people to get the right spare parts for their vehicles.

He added that when prices of spare parts are reduced, more people will buy spare parts, with a conresponding increase in employment in the country.

According to him, not too long ago, many of our neighboring countries were buying spare parts from Ghana, but the high interest rates in the country has negatively affected business between the two countries.
The organizer also criticised government for high import duties on spare parts in the country.

He said every little item that is imported into the country attract a duties. He therefore appealed to government to help reduce import duties on spare parts at the ports in order to help maintain stable prices for the goods.

Mr Asiedu further advised government to improve the road network in the country in order to reduce acidents on our roads. He however expressed regret that there are too many old and rickety vehicles on our roads. According to him, these vehicles are unsafe for use on our roads. He disagreed with government on the ban of over aged vehicles into the country. According to him, over aged vehicles from oversees are stronger and safer than the old ones we have on our roads. He appealed to government to remove them so as to ensure safety on our roads.

Source: Kojo Aidoo

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