The head of Gambia’s Ministry of Finance and Economic Affairs, Mr. Mambury Njie, has frown at the rate at in which business people are increasing commodity prices, describing it as ‘unjustifiable’, while responding to matters raised regarding his Ministry at the National Assembly, before the end of the last session.
Dilating on the prices of commodities, he maintained that in all fairness, the only increases he could remember coming to the National Assembly, were only on alcohol and tobacco products. “All the others we have not increased. We are still battling to see exactly what is happening. As I am talking to you, 20 percent CIF [Cost, Insurance, and Freight] price is taken off the invoices”, he had told the lawmakers. Njie had also said what was needed was the collective panel (executive and legislature) where they could go on campaign, ask the businesses (which is happening) what is the justification. He reiterated that for past three years, the only increases they made were on alcohol and tobacco.
“We will have to come together with the National Assembly to see what we can do. The transaction cost has increased inflation and there is no justification. Where you buy a commodity in the morning [at] D10, and you go back there in the afternoon, is D15”, the country’s Finance and Economic Affairs cheif lamented.
He admitted that they are tempted, but they don’t want to go into price control, but he warned, if it kicks the government to go into importation and compete, “we will do it. We don’t want to go that far, but if that is what it will take to protect the lives and livelihoods of the Gambians, we will do it”.
Njie intimated that they have been talking in a democratic system, they cannot force them (business people) and they don’t want to go through price control, but they will do, and take whatever it takes, to make sure that people are protected.
On climate change, he said his Ministry is Co-chairing a group of countries classified as G20, of the most vulnerable countries in the world.
“The intention is to mobilize enough resources, to heavily subsidize infrastructure. For the Gambia, we are moving very fast on that and we are trying to justify [that] by linking it with tourism, agriculture. These are issues that have gained some sympathy from the donors”, the Minister informed the house.
He also maintained that local inputs are significant, noting that if they (donors) are subsidizing 90 percent of the needed resources, the country, through the use of local funds, should be able to cater for the 10 percent of the needed resources from the local funds.
“Climate change is so important that most of us living in places such as The Gambia, should give it a priority,” he said.
On the call for a National Assembly office building, Minister Njie told the NAMs he had been making efforts to come up with an innovative idea to finance the office building for the assembly.
He expressed hope that they will get things together before the end of the year, to provide the accommodation for assembly.
To the veteran Parliamentarian Hon. Sallah, who is retiring from Parliamentary representation, Minister Njie remarked: “You have served the country with dignity and you will remain in our hearts and minds. Nobody can eliminate or erase that legacy. Congratulations, and we will continue to be in touch with you.”
