Thursday, January 27, 2022

Are Prices Of Commodities Going Down After The Lowering Of Taxes?

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QUESTION OF THE DAY

Complaints from readers indicate that people are not seeing a correlation between reduction of customs and excise duties and reduction of prices. It is therefore important to know what is responsible for the price rises after a reduction in duties.

One thing that is certain is the absence of price control. Many citizens have witnessed the existence of price control in the 1970s and are calling for its reintroduction. A liberal economy however may introduce regulatory policies but would not be able to impose price control. Foroyaa will investigate the prices of basic commodities and gauge how much is being paid on taxes on those commodities.

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