Sen. Duncan called for the Senate to invite the Minister of Commerce and Industry and the Commerce Inspector General to address the Senate about the rising prices and present solutions to the issue.
Monrovia, Liberia – Senator Crayton O. Duncan, Chairman of the Senate Committee on Autonomous Commissions and Agencies, has raised concerns over the high cost of living in Liberia, attributing it to the government’s failure to control commodity prices.
By Obediah Johnson, [email protected]
He criticized the Unity Party (UP)-led administration of President Joseph Nyuma Boakai for not regulating market prices, which he claims has led to severe hardship for Liberians.
In a communication delivered to the Plenary of the Liberian Senate on Thursday, February 27, Senator Duncan accused the Ministry of Commerce and Industry of neglecting its responsibilities to regulate prices and curb the daily devaluation of the Liberian dollar.
He called for the Senate to invite the Minister of Commerce and Industry and the Commerce Inspector General to address the Senate about the rising prices and present solutions to the issue.
“The citizenry are facing economic hardship. I am requesting that the Minister of Commerce and the Inspector General be invited to explain the cause of this persistent rise in prices and to outline the plans in place to solve this national problem,” Senator Duncan stated.
Senator Duncan noted that despite promises made by Madam Magdalene Shelley-Dagoseh, Minister of Commerce, to ensure economic transformation, the prices of basic goods have continued to rise, further burdening the Liberian populace.
He also highlighted the challenges faced by ordinary Liberians, particularly the low wages in both public and private sectors, which are insufficient to meet the high costs of living. Senator Duncan pointed out that the lack of foreign investment and job opportunities has worsened the economic situation.
“Our standard of living is incredibly low due to the high cost of living. Fees in private schools are steep, and government schools are few and cannot accommodate all of our people. The prices of goods in stores are not in line with the salaries that our people earn,” he said.
Senator Duncan further stressed that the prices of goods in Liberia are significantly higher than in other countries. “The wholesale prices of goods abroad are far lower, yet in Liberia, goods are sold for three or four times more. Our people are suffering.”
As a result of the worsening economic situation, Senator Duncan observed that many Liberians are frequently seeking financial assistance from public officials, including lawmakers. He emphasized that even small amounts, such as US$20, are insufficient to address the pressing needs of the citizens.
“The pain is felt by all of us. When people don’t receive help, they become dissatisfied and discouraged,” he added.
Senator Duncan urged the government to take decisive action to prevent a small group of entrepreneurs from exploiting the situation and further destabilizing the market.
In response to the concerns raised, the Senate Plenary has instructed its Committee on Commerce to investigate the matter. The committee is tasked with summoning the Minister of Commerce and Industry and the Executive Governor of the Central Bank of Liberia to report back to the Senate in two weeks with updates and solutions to address the rising cost of living.
