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:
