Liberian President Joseph Nyuma Boakai, Sr. has announced significant price reductions for two staple commodities, flour and rice, to ease the financial strain on Liberian households.
This decision follows a comprehensive review and recommendations from the Presidential Ad-Hoc Committee on Price Contradictions, which is chaired by Vice President Jeremiah Kpan Koung, Sr.
A press release from Presidential Press Secretary Atty. Kula Bonah Nyei Fofana detailed the new prices, which are effective immediately.
The wholesale price for a 100-lb bag of flour has been lowered from US39.00 to US35.00, and the price for a 25kg bag of rice has been reduced from US16.75 to US14.00.
President Boakai underscored the importance of the reductions, stating, “These reductions represent my government’s commitment to ensuring that the ordinary Liberian family has access to affordable food.”
He also noted that the government is collaborating with producers and importers to foster fair and sustainable trade practices to maintain a consistent supply of these essential goods.
To ensure the new prices are enforced, President Boakai has directed the Ministry of Commerce inspectorates and other relevant agencies to take immediate action.
He issued a stern warning, stating that any individual or business found creating arbitrary price increases will “face the full weight of the law.”
The Presidential Ad-Hoc Committee will continue to consult with stakeholders to analyze cost drivers and explore additional opportunities for future price reductions.
President Boakai affirmed that his administration’s top priorities are stabilizing prices, enhancing food security, and providing financial relief to Liberian families.
By: Rainbowradioonline.com/Ghana
