Escalating food prices worry BB
Chakalisa Dube | Monday May 30, 2022 09:17
Keebine was officially opening the 26th annual BB Northern Trade Fair in Francistown. This year’s event was themed 'Accelerating the rise of a digital economy'.
Many major food suppliers in the country continue to experience escalating costs of operations as a result of the fuel supply chain challenges brought by the Russia-Ukraine war.
To mitigate against the rising cost of operation, businesses have also hiked the prices of the commodities. Prices of many basic food commodities have gone up by over 15% since the Russia-Ukraine war started.
“We are deeply worried by skyrocketing prices of basic food commodities such as maize meal. The increase in unprecedented. The government has to move swiftly and come up with necessary interventions to counter the ever-increasing prices. The price increase of basic commodities cannot go on. It will seriously affect consumers,” Keebine said.
He added that BB has since opened engagements to see how the rise of basic food commodities can be brought under control. Keebine also urged the private sector to venture more into agriculture in a bid to extensively reduce the country’s import bill.
At the event, he also pleaded with the government to come up with strategies to mitigate against rising fuel prices. He pointed out that if fuel prices continue to rise unabated the situation could adversely harm the economy. According to him fuel prices might significantly go up next week unless the government intervenes.
“Fuel prices are likely to go up by between P2 and P3 per litre. We are meeting public transport operators on Monday to discuss strategies that can be employed to counter or deal with the constant escalating fuel prices,” he said.
Last week public transport operators embarked on a strike demanding a hike of fares. They demanded a hike of 61%, but the government awarded them 15%. Operators bemoaned that sustaining their respective businesses was becoming a serious challenge owing to the constant increase in fuel costs.