Representative economics recommends boosting imports to cope with price hikes

 
04/12/2021

Economy News _ Baghdad

The Parliamentary Economic and Investment Committee revealed a working paper and proposals to address the high prices of foodstuffs in the markets, the most prominent of which is the strengthening of the Ministry of Trade's import of basic food products, while economists believe that the high demand, the insufficiency of the local product, the change of transportation methods and the closure of outlets are additional factors that contributed to this problem.

The markets have witnessed a steady increase in prices recently, as the price of a bag of rice, despite its distribution within the ration card items, jumped from 35 thousand dinars to 51 thousand dinars, while the bag of beans rose from 42 thousand to 48 thousand dinars, accompanied by a large increase in the price Chickpeas, one kilogram of which amounted to 4,500 dinars, after it did not exceed two thousand dinars. As for tea, it also witnessed a rise from 35 thousand dinars to 42 thousand dinars per carton, and the prices of sugar, milk, meat, chicken and oils also increased.

A member of the Parliamentary Economic and Investment Committee, Hamid Al-Mousawi, said in an interview with Al-Sabah newspaper, followed by Al-Eqtisad News, that “the committee is working to present a working paper and proposals to address the rise in food prices, especially basic foodstuffs, with the approaching month of Ramadan. "At prices lower than what currently exists, to address supply and demand problems, in addition to price control and accountability for

greedy traders  ."

Moussawi called for "granting import licenses, especially for secured traders, to solve this problem and return prices to normal."

The Ministry of Trade promised to distribute the ration card items into two meals, "a late measure that did not fulfill the purpose" because prices rose for some time and will continue even after the passage of the holy month if the main causes are not addressed.

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