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Traders ordered to reduce prices

Author : | Published: Thursday, February 11, 2016

The Ministry of Trade has directed traders to reduce the prices of basic goods by 40 percent in line with the reduction of taxes the government declared last month.

The subsidy is on good such as maize flour, sugar, cooking oil and rice. Others include formula, sorghum, and salt.

The undersecretary in the ministry of trade, industries and investment says the move was meant to reduce prices.

Biel Jok told Eye Radio that law enforcement agents have been directed to implement the order.

“Since we’ve reduced duties at the border, any trader who brings maize flour has to sell it at 450 pounds. This is a government policy and it must enforce it,” he said.

In November, the government gave $10 million to Ivory and Alpha banks to import basic goods with the aim of reducing prices.

However, Mr Biel says the government has stopped this policy because the demand was too huge to sustain for a long time.

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