By Binta Jaiteh
The Ministry of Trade, Industry, Regional Integration and Employment has warned traders against price escalation following windstorm destruction, while the Ministry vowed to penalise any trader found liable.
The Ministry of Trade in a press release said traders begin increasing prices on corrugated iron sheets in the aftermath of the devastating storm that adversely affected the country last week.
“The Ministry of Trade, Industry, Regional Integration and Employment (MOTIE) in its surveillance of the market prices noticed with concern an increase in the price of corrugated iron sheet 14 Millimetre from D1800 per packet in Mid-June to D2,200 currently. Similarly, the prices of nails and iron rods are also rising.
“These increases are taking place in the aftermath of the devastating storm that adversely affected the country last week. The Ministry hereby notifies all traders that undue price escalations are not in line with the free-market principles and contradict section 11 (2a) of The Gambia Consumer Protection Act 2014,” the statement said.
“Traders should not take advantage of the Natural Disasters that affect the country and should desist from any practice that is not supporting consumer welfare. The Ministry remain committed to free market principles but will take necessary measures against any trader that violates The Gambia Competition and consumer protection Act,” the statement added.