Don’t blame merchants for price hikes: Chamber [Archives:2004/705/Local News]

January 22 2004

In response to recent reports and coming from the Yemeni government, the opposition, the private sector and media on the recent wave of price hikes, the Chamber of Commerce and Industry has responded.
It expresses surprise at what it believes is a media campaign against merchants as greedy.
The release described the assault as unjustifiable and brought forward some clarification.
It says there has been a world rise in the price of wheat by 40-60 percent and shipping cost by 100 percent, adding to that the rise in the Euro value against the dollar. That particularly affected the commodities imported from Europe.
The press release also said that some countries had adopted a preventative policy via providing protection mechanisms for the poor social segments.
In another point the chamber of commerce and industry release reiterated a previous call for not imposing any new duties or taxes because of the deteriorated living condition of the citizens.
Finally the chamber of commerce statement recalled that the government plans and strategies considered the private sector as a strategic partner and leader of the development process.
It says the government had promised to make available the factors of economic stability for providing more opportunity for more investment and economic growth.