Dr Ing. Peter Debrah is an engineer

Renowned engineer, Dr Ing. Peter Debrah, has called for the urgent establishment of a Pricing Regulatory Authority in Ghana to monitor and control the rising cost of essential goods and services.

Dr Debrah argues that the current consumer protection framework lacks the legal authority to regulate prices effectively, especially in the face of arbitrary price hikes linked to currency fluctuations and inflation.

“Ghana finds itself in a troubling economic cycle, where prices continue to rise without justification or oversight,” he said in a statement released Tuesday. “The time has come for Ghana to establish a Pricing Regulatory Commission or Authority.”

While existing institutions like the Consumer Protection Agency and Ghana Standards Authority focus on product quality and safety, Dr Debrah stressed that these bodies are not empowered to set or monitor prices.

“Consumer protection ensures product quality; price regulation ensures product affordability. Both are essential, but they must function independently,” he said.

He proposed that a Ghana Pricing Regulatory Authority (GPRA) should be tasked with:

• Setting price ceilings and floors for essential goods,

• Requiring price reductions when input costs or exchange rates improve,

• Investigating and penalizing opportunistic pricing,

• Issuing public bulletins on benchmark prices.

Dr Debrah was particularly critical of the dollar-linked pricing culture in Ghana, saying it lacks fairness.

“Today, nearly every product, from food to cement, is tied to the U.S. dollar. Yet, when the dollar drops, prices remain high. The GPRA will fix this with automatic price reviews tied to exchange rates and real costs,” he added.

He cited countries such as India, Malaysia, and South Africa that have successfully implemented similar pricing oversight systems to stabilize their economies and protect consumers.

To function effectively, Dr Debrah emphasised that Parliament must pass a new law to empower the authority with legal tools such as price audits, margin regulation, and enforcement powers.

“Ghana cannot continue to operate in an environment where prices go up but rarely come down,” he warned. “A Pricing Regulatory Authority is not a luxury, it is a national economic necessity.”

He urged policymakers to act swiftly, stating that “a country that controls how prices are determined controls its future.”