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Momodou
Denmark
11712 Posts |
 Posted - 09 Sep 2010 : 08:30:35
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PRICE CONTROL!!! Is Not A Government Policy - P.S. Trade
By Publisher on 08-09-10
Following continuous reports that businessmen who sell commodities like sugar above certain prices are actually arrested and taken to court this reporter had to conduct investigation as to whether the government has a price control policy or not. .This reporter therefore decided to approach the Ministry of Trade, Industry and Employment to find out whether there exist a new Price Control Act and if so, whether it was gazetted and the gazette number.
Talking to this reporter on Tuesday, 7 September 2010 at her office on the issue, the Permanent Secretary Ministry of Trade, Industry and Employment Madam Nafie Barry asserted that price control is not a Government Policy. She told this reporter that Government is operating a liberal Market Policy.
Editor’s Note
Readers would recall that the Price Control Act was repealed at the dawn of the Economic Recovery Programme (ERP) in the mid 80s to overcome the scarcity of goods due to the refusal of importers to bring goods to the country. What was needed was to establish a strong consumer association which would advise the people on the prices of commodities abroad, the quality of goods being imported and what constitute reasonable prices. In this way both businesspersons and consumers would know what is in the market and what is reasonable or not in pricing. People would buy from those who sell their goods at reasonable prices and thus encourage others to do so to get customers. The consumer associations could also look at the role of taxation in effecting price increases and then recommend to Government where to ease taxation to satisfy the public interest.
Source: Foroyaa Online
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