The Minister of Commerce and Industry, Axel Addy has disclosed that the ministry is scheduled to embark on a vigorous inspection of commodities prices on the Liberian market beginning Wednesday, September 3, 2015.
Minister Addy said government has reduced prices in order to make goods affordable for consumers on the market.
Briefing journalists last week in Monrovia, the Commerce Minister said the prices for commodities on the market including gasoline and diesel have dropped, so it is mandated that commercial drivers reduce fares.
According to the Commerce boss, from Red Light to the commercial district of Paynesville to New Georgia Junction along Somalia Drive is L$25 in taxi cab, while bus is L$15.
He further said that a 25 kilogram bag of rice previously sold at retail price between US$17 to 18 is now being sold for US$15.
He maintained that Liberia has one of the lowest gas prices among the Mano River Union Countries (which also include Sierra Leone, Guinea and Ivory Coast). “If someone is caught violating the commerce law, that person will be fined and if the person refuses to pay the fine, the business will shut down.”
At the same time, the minister has called for the registration of small and large businesses in the country, noting that the process was moving too slowly but today it is moving smoothly.
“We will also embark on the inspection of businesses for registration,” he added.
Minister Addy said the ministry lacks adequate resources to deploy inspectors throughout the country, but with assistance of retailers, violators will be tracked down.
The Commerce Minister has called on Liberians to be vigilant and beware of people impersonating as inspectors from the ministry.
In a related development, Minister Addy has extolled the government of Liberia for the success of the recent World Trade Organization (WTO) visit in Liberia.
He indicated that a recent visit of WTO officials to Liberia sets the stage for the holding of a critical one slated for October, in Geneva, Switzerland.
Minister Addy praised the media, business partners and citizens for their constructive engagement with ministry which, he said, has helped it to improve on the quality of service with the requisite mechanisms put in place.
He added that engagements will provide innovations that contribute to the success and realization of many aspirations that will improve the business climate for all citizens.