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Business News of Thursday, 19 March 2020

Source: laudbusiness.com

The ripple effect will come to you – GUTA boss to traders selling sanitizers at high prices


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President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng has appealed to traders to reconsider the prices at which they are selling hand sanitizers in the wake of the coronavirus outbreak.

Although he justified the price hikes saying there is nothing wrong with traders charging exorbitant fees on sanitizers, the traders he said must also be considerate.

Hand sanitizers are currently being sold at exorbitant fees at various shops and pharmacies across the country due to the high demand.

Some Ghanaians took to social media register their displeasure over the development.

Dr Obeng said in an interview on Tuesday “If you know what sales is, we have this theory of demand and supply. Normally the driving factor is there. If there is a shortage of goods, automatically prices go up, it’s a natural sequence so that one is not a deliberate measure by anybody.”

He “If the thing is available, you have to think about our own welfare that if we so punish the consuming populace and they do not have these to protect themselves, the ripple effect will come back to us.

“So whiles you are thinking about your profits, you also have to think about your own self and other people,” he said.



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