No increase of beer prices in view- Mbarga Atangana

The Minister of Trade, Luc Magloire Mbarga Atangana has in a communique, dispelled the wild rumours of an unauthorized increase in the prices of beer.

The Minister, in the release, strongly denounced the malpractices of wholesalers who had already engaged in speculations that ushered in artificial scarcity as the population waited for the January first deadline which the rumour stated will mark the beginning of the increase.

Minister Luc Magloire emphatically stated that the price of beer remains unchanged and that severe sanctions await sales persons and distributors who shall be found guilty of violating the order.

The rumour of an imminent price increase went wild during the last week forcing some bar owners to preserve existing stock, consequently depriving consumers in some areas in Cameroon.

The rumour was triggered by the modification of the 2015 Finance Law. Accordingly, the tax for tobacco and alcohol rights was raised.

Following the tax readjustment, the prices of beer and tobacco were expected to be increased. Informed sources, however hinted that a committee had been set up at the Prime Minister’s Office to examine the issue before any other announcement could be made on the prices.

In the meantime, the Ministry of Trade has deployed a number of control teams to ensure that no such increase is practiced on the field.