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Transport fares are very likely to go up, starting from next week.

There's credible information that the fares would see a 15% increment due to the fuel hikes.

Transport operators yesterday [Monday] announced a 15% increment in transport fares which is expected to take effect April, 6, 2017. According to a statement released, the increment is line with the Administrative Instrument on public fares.

The statement said, "the road transport operators have reviewed the prices of various elements that go into running of commercial transport services and have increased road transport fares by 15%." The increment the statement further indicated, cover the following transport operators; Intra-City (Trotro); Inter-City (Long Distance) and Taxi Cabs.

Following the announcement, some Ghanaians have expressed their displeasure and called on the transport authorities not to review the current fares.

Addressing the issue on Peace FM's Kokrokoo, Kwesi Pratt believes the transport fare increment is in the right direction.

According to him, vehicle drivers deserve to have the fares reviewed upwards because of the hardships they are subjected to due to the economic challenges.

Mr. Pratt explained that the fares are a means of livelihood for drivers and if fuel prices and other commodities are going up, the nation shouldn't expect them to keep up with the current fares.

He noted that though the government has indicated that it will abolish some taxes, primarily taxes on spare parts; it however won't make any huge difference if the country's currency continues to depreciate as against foreign currencies.

To him, the government's decision to reduce taxes for spare parts dealers in the country, doesn't mean prices will go down because there are several factors that come into play so far as the economy is concerned.

“It’s not only taxes that make prices go high or low. There are several factors. Let’s speak the truth. With the spare parts dealers, even if we reduce the taxes and the cedi still depreciates; by all means he cannot reduce the price. He likes the government. He likes the country. He wants his country to progress but the reality is that the cedi is falling. It’s unpredictable. He can’t reduce it.”

Since drivers also rely on spare parts dealers to fix their vehicles, it means they will have to pay more and so should transport fares remain the same; they (drivers) will be adversely affected," Mr. Pratt further added.

He however wants government to look at the petroleum sector and the currency in order to stabilize the economy.

He advised the government not to keep allowing petroleum product prices to be determined by private petroleum dealers (Oil Marketing Companies - OMCs), explaining that as businessmen, they are interested in making profits even if it's to the detriment of Ghanaians.