Reduce your price, or we close your shops – Juba deputy mayor tells traders
The Juba city deputy mayor on Wednesday in an address to the media threaten to shut down businesses that refuse to reduce their price.
Juba City deputy mayor for infrastructure and development, Thiik Thiik Mayardit said the exchange rate of the United States Dollars against the South Sudanese pounds has dropped, traders should reduce prices of consumer goods or risk closure of their shops.
Thiik Thiik was so concerned that the prices of the commodity in the market are yet to return back to normal, he mentioned that his expectation is that the price too should automatically return back to normal. He said traders that refuses to reduce the prices of their commodities, they may have to shut down their shops.
He broached that on the issues of high market prices, the council will have to call traders to the office and give them orders. He said though decisions to start closing shops can seem painful, but they are necessary steps to enforce compliance. Thiik Thiik added that henceforth, anyone who fails to comply with the directives, Juba City Council will close their business.
Several media reports in recent days suggest that the South Sudanese Pounds has slightly gained weight with $1 now selling at between 450 and 400 SSP
The traders on their part complained bitterly about multiple and high taxes by the authorities, some say that it is what they are buying that they are selling. the authorities.
The taxation system of the country needs to be reviewed and further standardized. But, in all every South Sudanese needs to be considerate and allow the market forces to determine the prices rather than become a greed and an opportunist.
In the past, traders have been very quick to raise prices of their commodities including old stock once the dollar exchange rates increase, but don’t reverse back when the exchange drops.
Consumers are victims of this high price and the purchasing power is not increasing.