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Business News of Tuesday, 20 December 2016

Source: Myjoyonline.com

30% reduction has nothing to do with Akufo-Addo victory - Spare parts dealers

The Used Auto Parts Dealers Association of Abossey-Okai has dismissed reports that its 30 percent reduction in prices of goods was in celebration of the victory of the President-elect, Nana Addo Dankwa Akufo-Addo.

In a statement released Tuesday, Chairman of the Association, Siaw Ampadu said, "we want to place it on record that we started this social intervention in the year 2007 and every December we reduce our prices by a small margin and not percentage."

Traders at the country's spare parts hub announced price cut for various products shortly after the presidential candidate of the New Patriotic Party (NPP) was declared the winner of the 2016 election.

The price cut was in solidarity with the incoming government which has promised a relatively business-friendly policy including tax reductions, import duty reduction etc.

Accordingly, fuel pump which sold at ¢350.00 is now selling at ¢200.00. Other products including car tapes have all seen marginal reductions, JOYBUSINESS' Kuuku Abban reported.

A member of the National democratic Congress (NDC) and Member of Parliament's Finance Committee, James Avedzi said either the traders were sabotaging the outgoing Mahama administration or exploiting the customers.

He could not fathom why the traders will cut prices of their products by as much as 30% a week after his party has lost power adding the conduct of the traders is still open for investigation.

However, the Association explained that "Abossey-Okai is dull during Christmas festivities which slows business activities. No one purchase or patronize our business so as a way of enticing customers, we reduce prices of our goods marginally to enable people to patronize.

"Again, drivers and vehicle owners travel to long distances to celebrate the yuletide and as such, we do this to encourage them to service their vehicles before leaving to their destinations for the yuletide," the statement said.

The Association is categorical that the "traders in Abossey-Okai are solely traders and not politicians so we work with every government."

Below is the statement by the Association

20th December 2016

PRESS STATEMENT BY THE USED AUTO PARTS DEALERS ASSOCIATION OF ABOSSEY-OKAI ON RUMOURS THAT WE HAVE REDUCE OUR PRICES DUE TO ELECTION OF NANA AKUFO-ADDO

Our attention has been drawn to comments making airwaves that we have reduced our goods by 30% to commensurate and celebrate the victory of the President-elect, Nana Addo Dankwa Akufo-Addo.

We the traders of Abossey-Okai want to put it on record that we have not reduced our prices as a result of the victory of Nana Addo and the New Patriotic Party (NPP).

We want to place it on record that we started this social intervention in the year 2007 and every December we reduce our prices by a small margin and not percentage.

Abossey-Okai is dull during Christmas festivities which slows business activities. No one purchase or patronize our business so as a way of enticing customers, we reduce prices of our goods marginally to enable people to patronize.

Again, drivers and vehicle owners travel to long distances to celebrate the yuletide and as such, we do this to encourage them to service their vehicles before leaving to their destinations for the yuletide. We are reliably informed that such intervention has helped to reduce road accidents during Christmas festivities.

We wish to inform the public that traders in Abossey-Okai are solely traders and not politicians so we work with every government.

We are by this statement urging the public to disregard the rumours that Abossey-Okai spare parts dealers have to reduce their prices due to the election of the NPP and Nana Akufo-Addo as the President.

We wish all Ghanaians Merry Christmas and a prosperous Happy New Year.

…sign……

Mr. Siaw Ampadu

Chairman