Prices of raw materials and other production resources shoot up
We’ll continue to increase prices, GIHOC
Managing Director of GIHOC, Maxwell Kofi Jumah, has stated that his company will continue increasing prices as long as inflation keeps rising.
He explains that this has become necessary due to the increase in prices of raw materials and other production resources.
According to him, the company needs to be able to pay salaries and generate revenue for the government through the payment of taxes.
Even though the company is yet to announce the effective date for the increase, the GIHOC Managing Director in an Nhyira FM interview stated, “Where do you think we got the money for government workers’ salary increment? We will increase it and support government with the revenue,” he said.
Meanwhile, Kofi Jumah said consumers who cannot afford the new prices of alcoholic beverages should resort to drinking water.
He added that “We have increased the price of alcohol and we will continue to increase it…if you are not ready to buy then stop drinking alcohol and drink water. It is not by force to drink alcohol.”