Katsonga said there was no tangible explanation on the continued increase of prices of commodities whose raw materials are locally available.
Government says it cannot rule out political sabotage on the unprecedented rise in cost of living in the country.
Minister of Trade and Industry Mark Katsonga said this on Wednesday during a press conference.
He said the government is investigating possible political sabotage.
In this regard, the minister said prices government expects a 16.5 percent reduction of prices of cooking oil since the national budget passed.
He said the government is engaging cooking oil manufacturers so that they reduce prices.
He has also indicated that his ministry is giving out several licenses people who want to import cooking oil of any quantity as long as they will be cheap for Malawians.
Katsonga also said the Russia- Ukraine war is among key reasons behind the rising cost of good and service in Malawi.
According to Katsonga, Minister of Trade the government is currently doing anything possible to improve the country’s exports.
Katsonga said they have already signed several memorandums of understandings with countries like South Sudan and India that are interested to be getting products from Malawi.
He has since assured Malawians that the country is on track to eliminate poverty as soon it will start producing goods like cement and fertilizer that in turn will increase exportation of goods and create more jobs.
Katsonga urged people in rural areas to consult officials from the ministry of Trade and Industry if they do not have tangible business ideas that they can do as currently there are other activities such as under agricultural commercialization project that would help to enlighten then on business they can undertake and become productive to the country.