By Adama Makasuba
The Ministry of Trade has linked the recent price hike items to coronavirus lockdown – citing the hike on increase in international supply chain.
The nation has been recently hit by a distressful increase in basic food commodities which stirs public concern amid trying time, which scores of people – many of whom were forced out of job by the global coronavirus pandemic.
Seedy Keita, Trade Minister said: “These prices are import driven from the external market over which the government has very limited control, but what the government can do is the internal factors that are within our capabilities we can look at. But given that it only comprises only 20% of the increase [and] there is limited assurance that we can say that this price increases can be stopped altogether.”
“The lockdown of coronavirus has disrupted the chain of supply – oil prices have increased, shipping container prices have increased, the cost of freezers increased. In a nutshell this disruption has created imbalances to the supply chain and as a result of this short supply chain these commodities have increased,” he said.
He as well disclosed that his Ministry has involved stakeholders including importers – shipping companies, clearing and forwarding agents to understand the domestic elements of the increase and “some of the increases were emanating from home and this comprises of 20%.”
The Gambia is a free market country – which means there is no price control in the business market because traders are allowed to freely impose prices on their goods. Calls have been made for the government to introduce price control to help regulate what has been described as public damage.