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Trade Ministry empty barking on goods hoarding, high prices

By Chisomo Phiri

BLANTYRE-(MaraviPost)-The Ministry of trade and industry with empty barking continues getting concern over hoarding and high prices of goods following 25 percent devaluation of the Malawi Kwacha.

Consequently, some business entities in the country are hoarding goods with the intention of creating unnecessary shortage and subsequently charging unfair and excessive prices for various essential consumer goods including soap, sugar, cooking oil, bread and among others.

Cooking oil still high

However, to deal with the problem, the Ministry in collaboration with relevant institutions says will be carrying monitoring exercises throughout the country.

Government also warned that will hesitate to take necessary drastic action to deal with the traders found engaging in the prohibited malpractice.

Ministry adds that is imploring all local manufacturers of essential and daily commodities in the country to provide to all their traders and publish the recommended prices of their goods sold on the domestic market in order to guide the consumers accordingly.

“Consumers should be at liberty to demand from traders to check and confirm prices against the recommended price list of any commodities they suspect to be unfair or excessively priced,” reads apart of the statement.

According to the constitution, unfair charges or overpricing the essential goods is a contravention of the Competition and Fair Trading Act.

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