Concord Times (Freetown)
8 June 2011
Freetown — The National Democratic Alliance (NDA) & African Socialist Movement (ASM) wish to express very serious concerns over the continuous rise in commodity prices despite claims by government that commodity prices have decreased since the announcement by President Ernest Bai Koroma on May 26, 2011.
Due to a recent survey of the market conducted by the NDA & ASM, we have discovered that prices of basic commodities have increased between 5% (five percent) to 15% (fifteen percent) since May 26, contrary to claims by government officials that commodity prices have subsided.
The National Democratic Alliance & African Socialist Movement also wish to state that although prices of other commodities like sugar, flour, fish, meat and tea have remained constant since May 26, the 10% (ten percent) deduction on import tax on rice has only resulted to a marginal 3.5% decrease in the overall sale cost of a 50kg bag of rice.
The NDA & ASM therefore underline the fact that the president’s statement on May 26, 2011 has not realistically solved the rise in commodity prices, which resulted from the 30% (thirty percent) increase in the prices of petroleum products created by government’s withdrawal of fuel subsidy.
We also want to point out that while the 30% (thirty percent) increase in transport fares in the Western Area has decreased, in the rest of the country transport fares are still up by 20% (twenty percent).
Besides, the NDA & ASM wish to reveal that the current cost of a 50kg bag of rice in the market supersedes the price of Le130, 000 announced by Presidential and Public Affairs Minister, Alpha Kanu as the official market cost.
Consequently, the NDA & ASM absolutely believe that this terrible economic situation is connected to government’s refusal to return fuel subsides.
We want government to understand that commodity prices cannot be reversed to their pre-May 1 cost when there is still a 20% (twenty percent) increase on the pre-May 1 price of petroleum products.
Therefore, the NDA & ASM wish to recommend the following:
The immediate removal of the 20% (twenty percent) increases in the price of petroleum products and the return of fuel subsidy.
Urgent increase by 400% (four hundred percent) the salaries of all workers especially teachers.
Possibility of an additional 15% (fifteen percent) increase on government revenue from multinational corporations especially mining companies to balance the cost of fuel subsidy.
The establishment of an Independent Commission tasked with the responsibility of studying and regulating the economy.
Below is a sample illustration of the current prices of basic commodities on the Market.
Commodity
Prices Before May 26
Price After May 26
Palm Oil
Le1,800
Le2,000/per pint
Hog Foot
Le4,000
L5,000
Oil
Le3,200
Le3,500/per pint
Chicken Leg
Le3,500
Le4,000
Packet Salt
Le1,200
Le1,500
Groundnut
Le1,500
Le1,600/per cup
Tomato Paste
Le36,000
Le38,000/per cartoon
Cassava Leaves
Le 800
Le 1,000
Potato Leaves
Le 500
Le 800/1,000
Ogiri
3 for Le 500
1 for Le200
Gari
Le 300
Le 400/per cup
This statistics is based on prices sampled from Lumley, Krootown Road, Garrison Street, Dove Cot, Calaba Town and Waterloo Markets.
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