Cleric blames Unscrupulous Traders for Skyrocketing prices of staple commodities in Somaliland

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A prominent cleric has blamed a sluggish economy and local businesspersons for the rising prices of almost all the things including essential commodities have become a regular common feature now a days. The rise in prices is partly, due to malpractices of unscrupulous traders who charge exorbitant prices to needy persons.

Sheikh Mohamed Sheikh Omar Dirir in his Friday sermon said, “The high cost of essential commodities has impacted almost every household in the country. Although the local currency is currently strong, nothing changed in the prices of consumer goods due to local traders who do not want to move in accord with changes in the local currency and U.S. dollar exchange rates and instead choose to maintain prices in the market.

He added that local traders should discern that commodity markets are quoted in U.S. dollars so it may seem intuitive that when the dollar rises, commodity prices increases but when the shilling is strong commodity prices will decrease.

“The Prophet Peace be Upon Him blessed those who while striving to make a decent living and at the same time remorseful to other people and that Allah is merciful to those who are considerate while selling , buying and when lending ”, he said.

Sheikh Mohamed Sheikh Omar Dirir further urged local businesses to sell their goods in line with the current rate of the which is 8,000 SL shilling and not the previous rate of 10, 000 SL shilling which is wrong.

The cleric lastly said that it is high time sincere efforts should be made to stabilize prices of essential commodities. Production of local produce should be increased. The rich make a display of their wealth while the poor find it difficult to make both their ends meet.  The indiscriminate rise in prices of essential commodities has left many a people tense and helpless.

SL Current

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