Othello Sarweh Nimely
Monrovia-Soaring high prices amid a fallen exchange rate is becoming too concerning for Liberians throughout the length and breadth of the country, including Nimba County Senator Nya D. Twayen who has joined growing calls for the improvement in the exchange rate to be reflected in the prices of goods and services on the local market.
For weeks, consumers have complained through various media outlets that despite the decline in the exchange rate of the United States dollar, prices of basic commodities remain high, making it difficult for many families to meet their daily needs.
Adding his voice to the concerns, Senator Twayen has called on the government and relevant stakeholders to take concrete measures to ensure that the stronger Liberian dollar translates into lower prices and greater purchasing power for ordinary Liberians.
The Nimba County senator in his recent statement said the appreciation of the Liberian dollar is a positive development for the economy, but warned that its benefits will have limited impact on citizens if the prices of essential commodities remain unchanged.
According to Senator Twayen, when the exchange rate falls, consumers should also begin to see a corresponding reduction in the prices of basic goods and services.
He said lower prices would help ease the financial pressure on households and allow Liberians to get more value from their income.
Senator Twayen disclosed that when the Legislature returns to session next month, he intends to engage his colleagues in both the Senate and the House of Representatives on measures that could encourage the Executive Branch to ensure that the benefits of the stronger local currency reach consumers.
Among the measures he is proposing are reductions in personal income taxes, lower import charges and fees on essential commodities, as well as the removal of unnecessary delays, duplicate fees and other bottlenecks at Liberia’s ports and borders.
The senator also called for greater cooperation among the Legislature, Executive Branch, Central Bank of Liberia and the business community to address factors contributing to high prices in the country.
Meanwhile, consumers say they are yet to feel the impact of the changing exchange rate.
A woman selling at the Waterside Market, Korpo David told a journalist that even though the United States dollar has declined against the Liberian dollar, shop owners and wholesalers continue to sell goods at prices that remain high.
She questioned why consumers should continue paying more for basic commodities when the exchange rate has improved.
In addition to the cost of goods, some citizens are also concerned about transportation fares, saying they have not seen a corresponding reduction. Some commuters complain that they are still paying high transportation fares despite the improvement in the exchange rate.
For many Liberians, they want to see the changes reflected in the cost of food, transportation and other necessities that directly affect their daily lives.
Senator Twayen has pledged to work with government institutions and the private sector to push for measures that would allow consumers to benefit from the stronger Liberian dollar.
Whether the senator’s proposed measures will lead to actual reductions in market prices remains a key concern for consumers, many of whom say they are waiting to see changes in their everyday expenses.
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