IPNEWS: Liberia’s Minister of Commerce and Industry has announced the closure of more than 30 shops and stores in Monrovia and surrounding areas over what she described as unjustified price hikes.
Minister Magdalene E. Dagoseh said she personally visited several businesses and observed increases in the prices of essential commodities, particularly rice, which rose from US$14 to US$14.50.
According to her, such increases undermine price stability and worsen the hardship faced by ordinary Liberians.
Speaking at the Monetary Policy Communiqué Meeting on Monday at the Central Bank of Liberia (CBL), Minister Dagoseh acknowledged that the Ministry faces challenges but emphasized that routine inspections are ongoing. She noted businesses were found arbitrarily increasing prices and refusing to display price tags will be fined or closed.
She reaffirmed the government’s commitment to ensuring price stability and affordability for all Liberians.
The crackdown was led by the Minister of Commerce and Industry, Magdalene E. Dagoseh, following personal inspections of various businesses.
Arbitrary price increases of essential goods, specifically rice, which was found being sold at US$14.50 instead of the approved price of US$14.00.
Several businesses were also penalized for failing to display government-mandated price tags.
Minister Dagoseh stated that these “unjustified” hikes undermine price stability and worsen economic hardships for ordinary Liberians.
Ongoing Actions
The closures are part of a broader nationwide inspection mandate from the Boakai administration to ensure compliance with official price ceilings for basic goods like rice and flour.
The Ministry warned that any business found overcharging or hoarding commodities will face massive fines or permanent closure.
Citizens are encouraged to cooperate with the Ministry to expose businesses engaged in unwholesome practices.
