Spare Parts Dealers at Abbosey Okai have rescinded their earlier decision to increase prices of goods as the coronavirus pandemic continue to impact on revenue.

There are fears Ghana could suffer shortage and increases in the prices of spare parts if the coronavirus pandemic is not contained. 

This, the Co-chairman of the Abbosey Okai Spare Parts Dealers Association, Clement Boateng said, is now less likely as dealers are highly expectant of benefiting from the GH¢600 million stimulus package.

They believe the GH¢600 million stimulus package announced by the government will help revive their businesses.

 “Yes, at the beginning of the year we warned of a possible hike in prices but we have rescinded on the action as the stimulus package is here to stop that from happening,” he revealed.

The spare parts dealers say they are compiling lists of over 100 shop owners and dealers who will be benefiting from the GH¢600 million stimulus package for SMEs.

Mr Boateng said, “The association, which is part of GUTA, is also compiling names of all dealers for the appropriate authorities for effective disbursement of the funds. These are not normal times and all spare part dealers must be cushioned against a possible collapse of their businesses.”

The coronavirus pandemic has led to a shortage of some stock. Suppliers have suspended production due to the outbreak. They say although there are alternatives to some of the products they import from China, the associated challenges have slowed down their businesses.

The effect of the Coronavirus in Ghana is indelible. Already, hundreds of workers have been laid off by employers unable to balance revenue with significant losses being accrued.

Clement Boateng also lamented the impact layoffs will have on the spare parts industry. Though the government has introduced a stimulus package for SMEs amid the covid-19, spare part dealers want more to be done to safeguard their business in these trying times.