Thursday, 4 August 2011 2:01 PM

Lack of Resources to Monitor Dollar Appreciation

The Solomon Islands Ministry of Commerce has revealed that it does not have the resources to monitor the effects of the recent appreciation of Solomon Island dollar on the prices of goods.

The Price Control Unit's Assistance Secretary, Edward Bamu said that the unit does not have the inspectors to carry out the work in shops around the country.

Mr. Bamu said that without the inspectors, the unit is in a helpless situation. Inspectors are the only authorized people to enter business premises for such surveys.

He explained that a recent survey was only a price survey, monitoring the movement of displayed prices in shops for divisional data and records.

What would be required is to check that retail shops on their markups either above or below the baseline. This will include checking of invoices, cost into shops, luggage cost and other costs that will enable inspectors to direct shop owners either to increase or decrease prices of goods.

As revealed by Mr. Bamu, the unit is handicapped without inspectors.

However, the Permanent Secretary of the Ministry of Public Service, Ishmael Avui stated that the Ministry did not receive any requests from the Price Control Unit for the employment of necessary inspectors.

Mr. Avui said the delay to submit a request for employment of inspectors means it won't happen this year.

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