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The suspension, according to the Ministry was to allow for extensive dialogue and also to get the buy-in of industry players and labour unions following the grave concerns raised about its impact on consumers and businesses.

GUTA contends that instead of the minister taking proactive measures and implementing policies to reduce business costs at entry points like ports, he has rather resorted to making contentious remarks on the streets about traders.

Key players in the industry, including the IES, have raised concerns over the situation, attributing it to financial challenges. But, the energy ministry has pleaded with Ghanaians to be a little patient as it works to resolve the challenge.

The Central Bank claimed that, the sustained reduction in inflation since August 2023 can be credited to the proactive efforts and measures it took to address hyper inflationary and restore macro-economic stability.