Commerce minister warns traders against price hikes

Somalia trade and industries minister, Abdullahi Ali Hassan has warned traders in the country against hiking the prices of basic items.

The minister cautioned that stiff action will be taken as per the law for those who take advantage of the economic conditions resulted by the global health crisis created by Coronavirus.

Speaking during a media briefing in his office the trade and industries minister said that the government has relieved tax duties on basic items such as food for humanitarian aspect and thus there is no need for the traders to hike the commodities in their stock.

The ministry of finance has recently announced to reduce taxation on basic items imported into the country to remove the economic burden on the citizens during the COVID 19 crisis.

The call comes as residents mainly in the capital Mogadishu experience doubled prices on items such as hygiene and sanitizers due to the Coronavirus scare.

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