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Commerce and Industry Minister-designate, Madam Magdalene Ellen Dagoseh, has vowed that if confirmed she will institute crucial measures for price control and stabilization to maintain economic stability and protect consumers from inflation and market volatility.
Speaking Friday when she appeared for confirmation hearing before the Senate committee on Commerce and Industry, chaired by Bomi County Senator J. Alex Tyler, the nominee told Senators that under her watch, the ministry will monitor the prices of essential commodities and implement regulatory measures to avoid price gouging, as well as coordinates with international partners and local suppliers to secure a stable supply chain, so as to prevent shortages.
Additionally, Minister-designate Dagoseh added that the enforcement of anti-profiteering laws to prevent unfair pricing practices, especially in basic goods such as rice, petroleum and building materials, among others, will be among her key priorities.
She noted that under her leadership, if confirmed by the Senate, the Ministry of Commerce and Industry will regularly conduct market surveys and assess economic data to adjust policies that safeguard against inflation.
With respect to competition, the nominee also pledged to create policies that encourage diversity in trade and reduce reliance on single-source imports, and at the same time support local producers to meet export standards and access international Markets.
Madam Dagoseh further assured that under her watch, the Ministry will open competition amongst importers to ensure better prices and quality of goods, and also establish trade partnerships and agreements that will position Liberian products in foreign markets, adding: “These strategies are intended to enhance Liberia’s trade balance, generate foreign exchange and stimulate economic growth.
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On the issue of institutional capacity, Madam Dagoseh committed to invest in continuous training and development programs to enhance employee skills, particularly in trade regulation, industrial policy and business support, as well as ensure that staffers have access to necessary resources, such as technology and data to perform their roles effectively.
In conclusion, Commerce Minister-designate Dagoseh commended former Minister Amin Modad for his roles at the Ministry and acknowledged that he established series of plans with short and long-term targets aimed at achieving measurable progress, adding: “As we move forward, we are committed to carefully reviewing these plans, identifying the ones that align with our vision and mission and we are committed to implement those ones that offer greatest opportunities for success.”
The Chairman of the Committee, J. Alex Tyler cautioned the nominee to work in unity for the greater good of the Ministry and the country’s commerce, owing to her previous roles in government as an Assistant Minister.
Senator Tyler ended the hearing by informing the nominee that they (Committee members) will revert to committee-room and subsequently report their findings and recommendations to the Senate Plenary for action.
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