Government issues 7 licences to imported cooking oil traders

Government authorities say they have issued seven import licences in the past two weeks to traders importing cooking oil.

The ministry of Industry and Trade says this is a move to curb continued increase of the commodity’s price on the local market.

The ministry’s spokesperson Mayeso Msokera said that the issuance of the licenses is expected to increase supply of the commodity on the market and result into reduced price of the commodity.

He said the imported cooking oil will start arriving in the country in a week time.

Meanwhile, Malawi University of Business and Applied Sciences business and economic expert Dr Betchani Tcheleni has welcomed the development saying it will give opportunity to Malawians to access the commodity at a lower price.