The Member of Parliament for Nhyiaeso, Dr. Stephen Amoah, has urged Ghana to adopt a mixed market economic policy as a solution to the country’s rising cost of living.
Speaking on the floor of Parliament, Dr. Amoah emphasized the need to review the current free market system, which he argued has created room for monopolies, oligopolies, and cartels that inflate the prices of essential goods.
“While the free market economy promotes private sector participation, it also encourages monopolies and cartels that burden consumers. A mixed market system will ensure fair pricing and improve access to essential goods and services,” he stated.
Dr. Amoah proposed that parliamentary committees examine the framework and recommend appropriate policy or legislative measures, including the introduction of price cap laws to protect consumers from excessive pricing.
He added that such reforms would not only strengthen Ghana’s economy but also improve the welfare of citizens by reducing economic disparities and ensuring a higher standard of living.
Source: metrotvonline.com
