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Gambia: Trade Ministry Set Up Price Control Committee
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Freedom Newspaper (Raleigh, North Carolina)
26 March 2008
Posted to the web 27 March 2008
Wise Man
Concerned by the current price hikes in the country, the Government is considering prosecuting businessmen selling their goods for exorbitant prices; the Freedom Newspaper was informed by well placed sources at the State House in Banjul. The Department of State for Trade has constituted a price control committee, whose task duties, were among other things- to monitor and report shop owners making unnecessary price increment.
The Gambia is currently witnessing economic crisis, with prices of basic commodities skyrocketing daily. Rice, which is the nation's main staple food, is out of reach. The average Gambian cannot afford the cost of a bag of rice. Many families go to bed hungry and woke up the next morning with an empty belly.
State House sources said plans were afoot to enforce the price control mechanism initiated by the Trade Ministry. " The Trade Ministry is apparently worried by the price hikes. They thought that the best way to bring prices down, was to create a price control body. This body will work hand in hand with the police and other law enforcement agencies in the country. A press release would be issued to the effect to announce the said new price control mechanism initiated by the Trade Ministry." Said our source.
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The state house insider said if the said policy is implemented, many businesses would close down. The source said the Government is not allowing the private sector to operate freely in this country. " Price control will never work in this country. We have a private sector led economy, if only the Government wants to ban the private sector. This move will cost us a lot. Many investors will not come into this country, because of such hostile business climate." Said the source.
Modou Salieu Jallow, a businessman in Bakau said unless Government reduce taxes, there cannot be price reduction in this country. He says they spent a substantial amount of money to order their goods. Jallow says the Government is confused and should consider giving chance to competent technocrats to steer the affairs of the country. He says they cannot sell their goods at losses. " No way. How can we sell our goods at Government determined prices? Are they going to give us money to order goods? Let them go ahead and do this and see... We too reserve the right not to order goods. We will see who will suffer... I think this Government should admit failure. They have fail woefully." Said Jallow.
Kebba ceesay, a petty trader accuses Government of undermining the private sector. " I am a supporter of the Government, but the truth be told, this Government is not private sector friendly. It's killing businesses in this country. No serious investor will come to the Gambia. This country is not an ideal place for investment. The Government is undermining the private sector. Almost all business owners are disappointed with this Government." He said
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