Business licenses of traders who have refused to reduce the prices of basic goods will be revoked, the ministry of commerce has warned.
The Undersecretary in the Ministry of Trade, Biel Jock, says traders should reduce the prices by 40% in line with the reduction of taxes and custom duties.
“I want to tell the traders that please you have to respect it because it is not good to cheat people,” he told Eye Radio.
He said organized forces have started inspecting the market to find businessmen who still keep the prices high.
Some traders who spoke to Eye Radio said they kept the prices high due to the shortage of the US dollars.
They also said they just received information on the reduction of taxes this week and would reduce the prices after their next imports.