Dr. Ekwow Spio-Garbrah, a former Minister of Trade and Industry, is asking for the establishment of price control organizations to govern the pricing of products and services in the country.
His remark follows increased requests for price cuts in products and services after the cedi rose against the dollar.
According to Ekwow Spio-Garbrah, a price-regulated environment will help restrict certain dealers' callous profiteering.
"There are aspects of our country that do not provide stable commodity pricing and provide individuals with a free-for-all atmosphere. Anyone can sell you anything at any price. It does not occur in many nations. Those are controlled settings, some of which we must implement to prevent exorbitant price rises over which we appear to have no control."
The Ghana cedi gained tremendous strength versus the US dollar, as fuel costs fell significantly.
President Akufo-Addo has already urged the business community to lower costs.
"There are aspects of our country that do not provide stable commodity pricing and provide individuals with a free-for-all atmosphere. Anyone can sell you anything at any price. It does not occur in many nations. Those are controlled settings, some of which we must implement to prevent exorbitant price rises over which we appear to have no control."
The Ghana cedi gained tremendous strength versus the US dollar, as fuel costs fell significantly.
President Akufo-Addo has already urged the business community to lower costs.