In opening the meeting that also involved the private sector and industrialists, the Minister of Industry and Trade, Dr. Ashatu Kijaji said that in response to the rise in products prices, the Government is talking to industrialists so as not to raise the prices of the products they produce. The Government also intends to reduce or eliminate some taxes, especially on sugar and cooking oil, to reduce the severity of life for citizens.
Another issue is to reduce and control the prices of construction materials in the market, especially moth and cement by keeping a good balance between the factory price and the market price despite the transportation costs due to the increase of the prices of Petrol and Diesel.
Later, the Minister of Finance and Planning, Mr. Mwigulu Nchemba spoke about the actual economic situation in the country and how the Government is taking steps to prevent the arbitrary increase in product prices. He also explained how the Government fought the economic situation during the Corona crisis, the current economic growth of 4.2 percent, and the Government's expectation to continue promoting the economic situation in the country to reach 5.5 percent.
Previously, Dr. Kijaji explained the reasons for the rise in the prices of goods here in Tanzania and other African countries and the world in general, where she said the ongoing war between Russia and Ukraine is one of the reasons. 19 (Corona), where this epidemic shook many countries and led to a decrease in the production and transportation of goods. Many countries, including Tanzania, buy goods abroad to meet the needs of consumers, such as motor oil, and wheat. The government buys a large amount from Russia. About 88 percent (8 tons) of wheat needed in this country is bought in Russia, and only 12 percent (1 ton) of all wheat is cultivated here in the country. Thus, the effects of the conflict between Russia and Ukraine are affecting us as well as many others in the world who depend on products from those countries, because Tanzania is not an island that is not affected by these effects, including the rise of the price of important oil products in the world market.
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