By Chernor Alimamy Kamara
A letter addressed to President Julius Maada Bio from the Renaissance Movement has urged the president to implement measures to stabilize the cost of living, particularly considering exchange rate fluctuations.
Dated 20th February 2024, the letter indicated that high cost of living remains pivotal and one of the many factors responsible for the high inflation rate of 52%, limited growth in the private sector,high unemployment rate, and low wages .
The Movement said it is deeply troubled by the widespread effects on the cost of living, access to essential goods, and transportation for millions in the country. It urged the President to explore avenues for increasing the minimum wage to align with the rising costs of essential goods and services.
“Your Excellency, you may not be aware that some brands of a 50kg bag of rice have overtaken the minimum wage threshold, selling for as much as NLE 1,200,” part of the letter states.
The movement wants the President to reconsider the removal of subsidies on fuel and lubricants to mitigate the impact of rising fuel prices on citizens.
It reminded the President that since August 1, 2023, fuel costs have risen from NLE 21.50 to NLE 30 which it described as sad. It noted that the spike-triggered a chain reaction, leading to soaring necessities such as food prices, making it increasingly difficult for families to make ends meet.
It said the increments in the cost of fuel and other essential commodities are happening despite the stagnant state of the minimum wage at NLE 800, exacerbating disparity, especially when juxtaposed with the escalating costs.
The President was reminded that pressing economic and welfare concerns are weighing heavily on the hearts and minds of citizens.
The movement extends its heartfelt appreciation to the resilient citizens who have shown remarkable patience and fortitude during these challenging times. It called upon all stakeholders to unite in alleviating the burdens faced by the people and steer the nation towards prosperity.
Copyright © 2024 Politico (26/02/24)
