Monday, January 14, 2008

Govt. Sets Up Committee To Study Rising Prices

An ad-hoc Price Commission has been set up by Government to investigate rising prices of key commodities on the Liberian market.

An Executive Mansion press release says the ad-hoc Commission will identify generic and specific factors that affect the pricing and costs of key commodities, and recommend to Government interventions to address these increases and simultaneously ensure the availability of those products on the Liberian market.

The Commission will develop its own methods and strategies that may include the use of questionnaires, direct interviews, review of permanent records, examination of the effects of regulations, demographic factors, and analysis of variables, as well as the impact of exchange rates and other regional considerations. Those appointed to the Commission include former Ministers of Planning and Economic Affairs: Dr. Togba-Nah Tipoteh; Mrs. Amelia Ward; Mr. Paul Jeffy; and Mr. Emmanuel Gardiner.

The Commission is also expected to: identify not less than five essential commodities on the Liberian market whose prices have increased over the last three months; determine the prices paid by the importer or cost to the producer to get the commodity on the market; identify the major drivers of prices and costs; as well as explore the development of indices for determining the retail cost of key products like gasoline when there is an increase or decrease in sourcing prices.

The Commission is expected to report its preliminary findings within three months.

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