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Sierra Leone: Price Increase a Blessing in Disguise
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Concord Times (Freetown)
6 May 2008
Posted to the web 6 May 2008
Rachel Horner
Freetown
In responding to the current price hike of fuel and essential commodities, minister of finance and economic planning yesterday revealed that the increment was a blessing in disguise as it creates awareness among the people.
"We have neglected our traditional farming and other means of sustaining ourselves. The current price hike in commodities should signal to the people that we need to work hard to sustain ourselves as a nation instead of depending on other countries," David Carew said.
He noted that it was time for people to harness the potentials of the state by making use of the available resources in the land.
But a lecturer at the Economics Department, Fourah Bay College University of Sierra Leone, Dr Dennis Sandy, debunked the finance minister's claim saying the price increase is a blessing in disguise.
"Poverty is surely going to be on the increase with the price hike in fuel and other commodities.
Government has not done anything to subsidize for the poverty-stricken people. Consumers bear the brunt of all the increase as there is no shock absorber or anything to fall upon to mitigate the social problems of the people. Now, there is uncertainty for the purchasing power of the consumers as the incomes of the people still remain unchanged," Sandy said.
He stressed that saving rates will reduce because of the instability in prices. "Even though the fuel price hike is an international phenomenon, it is expected that the government should ensure that it does not adversely affect the prices of commodities" he said.
But Carew dismissed the possibility of a salary increase for civil servants at this point in time saying though the government cares for the people, salaries cannot be increased without parliamentary approval. He also added that the country is cash-trapped.
"There will possibly be an increment of salaries in the next budget but as of now, there is no money and we cannot continue overweighing people with tax increment. Frantic efforts are being made to ameliorate the social problems of the people of Sierra Leone . Opportunities for self-realization come in such situations," Carew said.
The worrisome situation the price hike is causing has drawn attention from various quarters.
Recently the Sierra Leone Association of Journalist (SLAJ) issued a press release to express the organization's stand with regards the current economic situation of the country.
"There is great concern over the unprecedented increase in the prices of basic commodities and the corresponding hardship now confronting ordinary Sierra Leoneans. The unpalatable state of affairs has no doubt been attributed to series of global factors, ranging from a drop in world food supply to increase in the price of crude oil in the international market," the release stated.
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As a watchdog for the society, SLAJ observed in the release that: "Whilst we appreciate this fact, we however note with dismay the inability of the government of Sierra Leone to rise up to the occasion.
At least we expected that at the domestic level, our government should have been able to provide short or medium term solutions to the looming crisis.
Poverty-stricken Sierra Leoneans cannot continue to listen to lame excuses while they die of hunger or starvation."
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