The Chief Executive Officer of the Consumer Protection Agency, Kofi Owusu-Hene, also known as Kapito, has described the behaviour of traders as an unfair way of doing business.
Mr Kapito attributed it to their appetite for making instant profits.
“The excuses that traders give the consumers is where I have a problem. It is an unfair way of doing business. When fuel prices go up, instantly you jack your prices which is fair. When fuel price is coming down and you tell me you won’t reduce it because, in three months from now, if you decide to go and buy the goods again, the dollar rate will have gone up, you won’t reduce it. Is it fair?” Mr Kapito lamented.
Also, Mr Kapito advised traders to alter their perspectives on doing business because, in the absence of such a transformation, their products would one day be abandoned to rot because customers may not be able to pay them.
