In an address to the media on Wednesday, 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 said, “Price increment in the market, yes, it is correct and we are going to call them (the traders) and if any trader refuses to reduce the prices of their commodities, the they have to shut their shops and let us suffer.”
“And to be a leader of this country, we must take a painful decision so that our citizens can be relieved from where they are now. So on this issue of high market prices, we will call these traders to our offices so that we give them orders,” Thiik Thiik added.
He says anyone who fails to comply with the directives they will issue must 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
However, many consumers say the prices of goods remain high.
Traders we have talked to say they are being charged multiple and high taxes by authorities that will likely make them incur loses if they sell commodities cheaply.
In the past, traders have been very quick to raise prices of their commodities including old stock once the dollar exchange rates increase.
