A member of the Finance Committee of Parliament, Dr Osei Assibey Yeboah has described moves by the Economic and Organised Crime Office (EOCO) to halt the quotation of goods and services in dollars as “unworkable.”
According to him, the move will not be effective since there were some problems with the country’s micro economy.
“This is not going to be effective, why are we sending EOCO around? This is unworkable, what they have to do is to get their micro fundamentals right,” he said.
A taskforce comprising officials of the Economic and Organized Crime Office and some security agencies were dispatched to halt the quotation of goods and services in dollars.
The taskforce were assigned to move around some offices and institutions to ensure that every agency and institution comply with the new directive of the Bank of Ghana.
But reacting to the move on Eyewitness News, Mr. Yeboah said “this directive that businesses quote their prices and all transactions in cedis is not new. This has always been our books so why this new panic and this new emphasis,” he questioned.
He further debunked assertions that pricing goods and services in dollars had effect on goods and services, adding that the problem had to do with demand and supply.
Proposing a solution to the problem, Mr. Yeboah stated that the Bank of Ghana should rather pump more reserves into the economy.
By: Marian Efe Ansah/citifmonline.com/Ghana