Despite signing a US$20M Murabaha financing agreement in February for the importation of essential items, The Gambia Government insists it will not remove the 180% tariff it slammed on a bag of imported cement.
The thinking behind the Murahaba financing agreement is to facilitate the importation of essential commodities such as cement, rice and vegetable oil in order to ensure their availability and affordability for the population.
The Government has engaged the AGIB to oversee the disbursement of the fund to eligible businesses.
However, reliable sources have informed JollofNews that The Gambia Government is refusing to budge on its position on the tariff policy, reinforcing fears that the population’s cement nightmare is not going away any time soon.
The government exponentially increased the tariff sometime last year “to protect local cement producers” but it has become apparent that only Salam cement company produces cement locally.
The increment of tariff on a bag of cement from D30 to D180 has heightened the volatility of the cement market with the population left to battle with intermittent cement shortages and price increases.
Nearly a fortnight ago, Jah Oil Cement Company added D35 onto the price of a bag of cement, citing reasons beyond its control.
JollofNews made several efforts to get the government’s side of the story, but to no avail.
