A fellow with the Center for Democratic Development (CDD-Ghana), Dr. Kwame Sarpong Asiedu is predicting the shortage of drugs at retail stores if the Chamber of Pharmacy is allowed to sell drugs on a cash basis.

The Ghana National Chamber of Pharmacy (GNCoP) announced earlier that given the current economic challenges the group has decided to provide medicines solely on cash basis.

“All transactions with immediate effect shall be on cash basis until the economy stabilises,” President of the Pharmaceutical Importers and Wholesalers Association, William Adum Addo stated at a press conference on Thursday.

Reacting to this in an interview aired on Joy FM’s Midday News on Friday, Dr Asiedu explained that the transactions that go on at the pharmaceutical companies are highly dependent on forex hence the challenge.

“Even the manufacturing that goes on in Ghana which is 23 percent of our pharmaceutical products, it is almost 85 % dependent on forex so unless we stop the forex depreciation,” he said.

According to him, to help address the issue, government should “give them preferential forex maybe from the Central Bank” to minimise the challenges experienced in the sector.

In the meantime, the Ghana Medical Association (GMA) has described as worrying, the decision by the Ghana National Chamber of Pharmacy (GNCoP) to sell drugs only on cash basis.

President of the Association, Dr. Frank Serebour said although the decision would create problems, it is not surprising, considering the current economic difficulties.

He spoke exclusively to Joy Business’ Pious Kojo Backah on Thursday.

“It is quite worrying but not surprising. The reason why it is not surprising is because we all see the kind of economic situation we find ourselves in,” Dr Serebuor said.