D500,000 trade licence revocation awaits violators

The Ministry of Trade, Industry, Regional Integration and Employment and its partner institutions have issued a stern warning against price hiking and hoarding of essential commodities. A fine of up to D500,000 and trade licence revocation awaits violators.

This comes after President Barrow’s pursuant to Proclamation of a state of public emergency under section 34(1)(b) of the 1997 Constitution in response to the covid-19 pandemic promulgated the Essential Commodities Emergency  Powers Regulation 2020. We salute the Trade Ministry and its allies for their timely response.

The release has conducted a consultative meeting with major importers as well as a market research. These initiatives have shown that the stocks of essential food commodities are adequate for the coming months. Therefore, the unnecessary price hike by some unscrupulous businessmen is out of sheer greed and unjust profiteering.

Below on page 7  is the stipulated prices for basic food commodities across the country: