6 March 2017

Liberia: 'No Price Control'

Marketers in Margibi and Grand Bassa Counties have complained of unstable prices in their counties.

"We are facing serious problem with the prices of various commodities in our counties and the involvement of wholesale dealers in retail businesses," the market women stressed.

The marketers indicated that there is no stable price in their respective counties, as a result, they are unable to make the needed profits to sustain their families.

"No price control... currently, everybody giving prices to their commodities at their will," the market women said.

They also complaint of low buyers' turnout, thus increasing hardship on them.

The marketers made the assertions during a town hall meeting organized by the Ministry of Commerce and Industry, as part of efforts aimed at gathering information about challenges faced by the business community and consuming public.

They also complaint of the current exchange rate that is making wholesalers to increase prices without observing the price listing released by the Ministry of Commerce and Industry.

The town hall meeting brought together major businesses and was followed by inspection of factories in the two counties. The inspection wasledby the Minister of Commerce and Industry Minister Axel Addy along with Senior Management team.

Some of the factories visited in Margibi include Fabrar Liberia made in Liberia rice producer, the Liberia Japan Equipment Training School where they are training young Liberians to operate on heavy duty machines and other equipment, Alliance Group of Corporation, a company that produces and processes raw material from rubber woods all in Margibi county.

In Grand Bassa, the team visited the newly constructed Hotel Buchanan where over three hundred Liberians are expected to be employed, the Port of Buchanan and Grand Bassa Sports Academy that is currently under construction from the county development fund.

Minister Addy assured the marketers of a better and safe business environment.

He told them that it is the job of the Ministry to regulate businesses and promote trade in the interest of every Liberian especially marketers.

Minister Addy said, if Liberian businesses are supported, hardship will be reduced.

He also encouraged businesses to keep reporting irregularities by companies with pieces of evidence that will give the Ministry of Commerce and Industry the power to prosecute violators.

"Make sure you always ask for receipt from businesses involved with wholesales that are not respecting the price listing from the Commerce and Industry Ministry," he added.

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