Trade Ministry warns business community against price hiking Trade minister, Hon. Lamin Jobe

Jul 29, 2020, 11:37 AM

The Ministry of Trade, Industry, Regional Integration and Employment has reminded the business community to avoid any anti-competitive practice including hoarding, price hiking and rationing as those are against the competition rules.

Given that we are in Tobaski feast period, the ministry encouraged the business community to step up efforts to ensure the continuous availability of essential commodities and be reasonable in pricing.

The Ministry said it will continue to monitor the developments in both the international and domestic market and will advise Government accordingly to take appropriate actions when necessary to ensure the availability and affordability of essential commodities.

Following the announcement by government of The Gambia on the lifting of the State of Public Emergency and its underlining regulations with the objective of minimising COVID-19 shock on poverty levels in the country and on the vulnerable farming population as well as youths operating in the informal sector, the Essential Commodities Emergency Powers Regulation 2020 which was enforced under the State of Public Emergency has also been lifted.

The associated regulated price schedule which aims at containing unreasonable price hikes during the pandemic has also been lifted.

In view of this the business community is informed to resume normal trading and business activities including export and re-export of essential commodities.

Furthermore, In line with the overall free market policy and free trading environment, the wholesale and retail prices of essential commodities will continue to be determined by the market, said the ministry.

The ministry also strongly advised the business community to follow and comply with the Ministry of Health and WHO COVID -19 guidelines and regulations in order to contain the spread of the virus.

By Samsideen Ceesay, Information Officer, MOTIE

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