Friday, September 13, 2013

Save The One Ghana Pesewa

It is an enviable fact that our currency the Cedi is running down by the day. This is affecting the lives of people owing to do with the rise in inflation due to increases prices of commodities in the market. In as much general increases in prices of goods and services are due to some external factors in fiscal monetary policies and conditions, there is a large effect form the behavioural attributes of the Ghanaian. Today we easily round up the prices of goods and services to a whole number figure or nearest whole number figure. For this reason you hardly find the One pesewa in the system. But mean while in advance countries like the USA they still use the one Cent in the purchase of goods and services. For instance, when there is increment of fuel prices by 20% for which transport operators who charge say Gp 70 before would increase to GP 90.00 instead of GP 84.00. They just do not see the need to get figure right. Here the passenger is charge GP 6.00 more. I believe there should be a strong policy on this. The neglect of the One pesewa is causing a serious increase in inflation. A strong Pesewa means a stronger Cedi. We are failing to recognise this fact. the neglect of the One Pesewa is the neglect of the One Cedi. One pesewa can infact be used in payment of goods and services.

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