By Kidega Livingstone
Central Equatoria State Ministry of Trade and Industry and the state Chamber of Commerce, are set to meet Juba business community to address soaring prices.
The meeting, scheduled for next week, will bring together representatives from various sectors, including petrol stations, manufacturers and currency dealers.
Others include, transport companies, hotels, grocery traders, warehouses, water suppliers, and relevant government officials.
The aim is to identify the key factors contributing to the price hikes in Juba and across the country.
Speaking to No. 1 Citizen Daily Newspaper, State Minister of Trade and Industry Wani Tom Sebit expressed concern about the rising prices.
“Any price changes directly impact my ministry, as we are responsible for regulating markets and facilitating access to credit and markets,” he stated.
“The recent price increases have occurred without the government’s knowledge.”
Minister Sebit highlighted the issue of the black market for dollars.
“The state government has limited influence over the black market, which has become a commodity itself, impacting overall market prices” he admitted.
To address the situation, the government plans to establish “strategic partnerships with competent investors” to supply essential goods at lower prices and stabilize the market.
Regarding the source of black market dollar sales, Minister Sebit acknowledged the lack of information.
“We are unaware of the institution responsible for setting black market dollar exchange rates,” he said. “Policymakers need to determine who or what institution is responsible for these declarations, as the dollar’s value significantly impacts the market.”
This week, the South Sudanese Pound has experienced significant fall against the United States Dollar. In the Parallel Market, a dollar trades between SSP 1,400 and SSP1450.
In contrast, the official Central Bank exchange rate stands at SSP 1,295.9387 per USD (buying) while sells at SSP1,257.6351.
The rising prices have placed a significant burden on ordinary citizens, making essential goods increasingly unaffordable.