Editorial

MARKET PRICES OF BASIC COMMODITIES SHOULD BE REGULATED

Editorial 6th May 2018

Prices of basic commodities continues to be hiked by traders almost every day while the economy is not improving to any better. There must be a way out for people to be able to afford these items for their households. Some of these items as so necessary and essential that cannot be done away with. We have time and again asked one question. Is there a way out to cushion the current skyrocketing prices of these items in the local market? It is understandable that we are faced with free market competition. It is equally understandable that most of the items are imported, but one fact is that there are traders who are creating the hike based on the high rise in USD rates in the black- market. The rate USD continued to rise making it impossible for prices to remain at a point for a week. It keeps on changing every day. These traders ensure they make calls to one another every day and on receiving information of the rate in the black  market will go ahead to increase prices even on old stock which do not deserve such changes of  price hike on daily basis. As the country struggle to restore peace for all, there should be a commitment by individuals to change their mind-set and start developing some sectors to help reduce dependency on import and the USD. Agriculture sector for food production and sustainability should be prioritized, particularly this time when rainy season is at the corner. This will help in reduced expenses on imports and may tame the market in hiking commodities prices. Above all peace should be restored soonest to enable effective and positive business and market price competition. The fate of deciding market price should not be left in the hands and at the mercy of few individuals in the business circle.

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