May 17, 2021
We are in country that is refusing to change for the better. This is the wide spread belief and can be related to the unrealistic cost of goods and services, which explains a dog eat dog syndrome; Sierra Leoneans killing Sierra Leoneans.
When we say this we are providing a reprieve for the government to some extent in the spiking cost of goods that defy principles of economics. If there is tax reduction on commodities then there is ought to be a corresponding drop in price. Government recently announced a drop in price of our staple food rice but we are amazed that the price is shooting up. Half bag of rice, parboiled has been Le160, 00 but it is currently sold at Le 190, 00.
The in our neighborhood selling fast food displayed a bowl of pepper pud she bought at Le40, 00. It was a shocking spectacle to behold.
Officially inflation has dropped to single digit but the real market reality is refusing to accept the positive strides we supposed to be making in stabilizing the economy.
It is problem that has been explained by no less a person than the Chief Minister Jacob Jusu Saffa, when he alluded to the Ramadan notorious trend of inflating prices. He called it the SUNAKATI EFFECT, which translate to the situation where the huge cash chasing food stuff for fast breaking called SUNAKATI refusing to go downward even after the month of Ramadan.
Many Sierra Leoneans are of the opinion that our problem is not a reflection of the global economic meltdown. Our investigation has unearthed that it is sheer wickedness that transcend the marketers to include the transporters.
The Ministry of Trade and Industry that has oversight over the sector could be dealing with the importers, regulating the sales but down the line the latitude granted the retailers to do their own price determination in the name of free market economy is killing Sierra Leoneans.
There is an increasing suggestion for government to step and regulate prices of goods sold in the retail space and even try to rationalize the cost of transportation that is having knock on effect on the commodities.
The fear of hoarding is real when government ventures to regulate the prices but when reached that bridge it can be crossed. It is high time some stringent policy action is effected to curtail the harsh artificial economic downward trend that has been setting in motion. Why this suggestion is plausible can be understood that it will not get better so long we are coping with it and there are those Sierra Leoneans who think it is a way of making the government look bad.
The current situation in the market and transport sector needs urgent reflection and the government cannot afford to keep aloof, lest its efforts in other policy redirection and peter out in the face of brazen economic sabotage that is gathering pace. Sierra Leoneans must be united on this point as it is not in anybody’s interest. For when you add stuff in the palm oil to increase the quantity and profiteer beyond reasonable levels; you are not being smart; it is going to catch up with when you go to the hospital for the malaria treatment. And your savings from profiteering is going to be sucked out. This is how we have been stagnating; if not making progress backwards; when we are actually supposed to be making upwards mobility. It is a vicious cycle that must be supplanted with love for self; love for the country!!