Reduction in transport fares will boost economy – Regional Minister – Nsemkeka
The Western North Regional Minister, Wilbert Petty Brentum, says the 15 per cent reduction in transport fares will boost the economy by lowering the prices of goods and services across all sectors.
Speaking to the Ghana News Agency in an interview, the Minister said the reduction was attributed to favourable microeconomic conditions, particularly the continuous appreciation of the cedi against the dollar, which had contributed to the drop in fuel prices.
He said: “The fare reduction is expected to improve food prices since traders often factored transportation cost into their pricing, so they should support this initiative by adjusting their prices downward to reflect this significant progress.”
Mr Brentum continued: “Under the leadership of President John Dramani Mahama, some economic policies have fostered a more favourable financial environment, allowing the currency to gain strength against other international currencies.”
These policies, he added, had a direct and positive impact on the cost of imported goods, particularly fuel, which was a critical component of the transport sector.
He appealed to the leadership of the Ghana Private Road Transport Union (GPRTU) and other authorities to take action against drivers who failed to comply with the directives.