By Binta Jaiteh
The Gambia government through the Ministry of Trade, Industry, Regional Integration and Employment has announced its readiness to embark on a stringent monitoring tour with security apparatus amid rising food prices in the country.
According to a statement from the Trade Ministry linked the rise in prices of commodities to coronavirus impact and Russia-Ukraine war, but added despite this factor no retailer has right to hike prices on commodities.
“The Ministry of Trade, Industry, Regional Integration and Employment and the Ministry of Finance and Economic Affairs together yesterday, March 21st 2022, held a stakeholder meeting with the major importers of essential commodities to discuss issues around the rising prices of essential commodities. In attendance were the representatives of Gambia Revenue Authority (GRA), Gambia Ports Authority (GPA), Gambia Competition and Consumer Protection Commission (GCCPC), and the representatives of clearing and shipping agents.
“The Government acknowledges the external factors emanating from COVID-19 pandemic, the current situation in Ukraine, etc. as contributing factors to the hike in price generally. However, the recent observation of the increment of prices of essential commodities in the domestic market is disproportionately getting more frequent on a daily basis. And such frequent price increases at the retail segment of the market is not acceptable,” the Ministry said.
“For example, multiple price increases of a commodity within the day (price of the same commodity costing, let’s say D100 in the morning and this becomes D125 in the evening at the same place). This is an example of price gouging and is not in line with the principle of free market.
“Consumers should not be taken advantage in these challenging times, particularly as we approach the holy month of Ramadan. Government has not increase any duty or taxes relating to these essential commodities and expects the retailers to be reasonable in their pricing. Failure to do so may require government to deploy tools to address this anomaly.
“Government through GRA, GCCPC and other state security apparatus will embark on a strong monitoring of retail prices to ensure that consumers are not exploited. The Government is therefore, calling on all the retailers of essential commodities to be fair in their pricing. Failure to comply will lead to prosecution of the violators under the Competition Act 2007,” it added.
The Ministry assured the state’s continued commitment in ensuring that essential commodities are available and affordable to the Gambian population.