Business
is an essential human activity that people engage in to earn their living. It
is also a fundamental means of promoting the economic wellbeing of a nation.
Thus, it is important that those who are engaged in this crucial activity do it
with honesty and empathy.
It
is being reported in the news about the surge in the price of some basic food
commodities in the country.
This
comes as The Gambia is faced with a daunting challenge of stemming further rise
in the number of covid-19 cases. Already, three covid-19 cases have been
reported in the country. Suffice it to state that covid-19 is having a
devastating impact on many communities across the globe.
But
this should not be an opportunity to hike the price of basic or essential food
commodities. In fact this should be a period to show mercy and empathy towards
one and another.
In
a joint press release, the Trade and its partner institutions have issued a
stern warning against price hiking and hoarding of essential commodities. In
the said release, a fine of up to D500,000 fine 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
Ministry of Trade, Industry, Regional Integration and Employment in a 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.
We
therefore, salute the intervention by these institutions, as it is among the
most pressing task for the government in trying moments to monitor and control
prices of essential items and to bring down the overall inflation rate.
Though,
consumers always blamed traders on the sudden hike of basic commodities, while
traders and vendors are also complaining that importers are responsible. But
that should not be an excuse to just skyrocket the rice of basic food
commodities especially in times of emergency.
Honesty
is very important in whatever we do. The growth potentials of the country are
growing; there is no need for the people to venture into dubious price hikes. A
slow but progressive business is what is sustainable. We hope the business
community will adhere to this piece of advice and embrace the culture of
honesty and sympathy in business.
Meanwhile,
the Kanifing Municipality intends to embark on a mass spray at 19 market outlets
within the municipality in a bid to contain the spread of the coronavirus.
“I
have never known much good done by those who affected to trade for the public good.”
Adam
Smith
