Over 1,649 trucks laden with essential food items such as edible oil, sugar and rice have been imported, according to the Ministry of Trade & Regional Integration. Officials disclosed that while progress has been made in addressing the hoarding of basic food items and unjustified price hikes, there is the ongoing challenge of controlling the rising costs of construction materials.
Minister Kassahun Gofe (PhD) emphasised their commitment to stabilising the market and ensuring affordable access to essential commodities. In one day, officals disclosed 3,512 businesses with excessive price increases have been shut down while 38 traders have been arrested.
His comments come on the heels of a Government Communications Service announcement that disregards any economic justification for price increases following recent macroeconomic reforms. Legese Tulu, the government spokesperson, acknowledged the business community that supports the reforms while expressing concern over hoarding and unjustified price hikes observed.
