The Abossey Okai Spare Parts Dealers Association has refuted claims that rising spare parts prices are among the factors necessitating a planned 20 percent increase in transport fares by commercial transport operators from June 2.
According to the Association, spare parts prices have remained stable in recent months, contrary to assertions by the Ghana Private Road Transport Union (GPRTU) and other transport operators that escalating operating costs justify the proposed fare adjustment.
Speaking to Citi Business News, the Head of Communications of the Association, Takyi Addo, insisted that there has been no upward review of prices across the spare parts market.
“Spare parts prices have not been increased at all. There is 100% stability in the spare parts business. In fact, the stability of the cedi against the dollar has rather helped to keep prices stable,” he said.
Mr. Addo argued that recent gains in the local currency and relative stability in the foreign exchange market have eased pressure on importers and traders, making claims of widespread spare parts price increases inaccurate.
“We disagree with the transport operators. They should not say they are increasing fares by 20 percent because spare parts prices have gone up. That is simply not true. Traders are happy with the current trend in the market,” he stated.
The Association further commended the government’s management of the economy and exchange rate, noting that the relative stability of the cedi over the past month has contributed positively to business operations within the spare parts sector.
Takyi Addo maintained that while traders continue to advocate for a reduction in taxes and other costs affecting the industry, current market conditions do not support claims of significant price increases.