Traders and retailers taking advantage of the global coronavirus pandemic by hiking prices could soon find themselves paying hefty penalties.

The government has warned retailers and traders across the country to refrain from hoarding, hiking prices or selling sub-standard goods noting that there are inspections underway.

Minister of Trade and Industry Soraya Hakuziyaremye told The New Times that a taskforce made up of Ministry of Trade, Rwanda National Police, Rwanda Revenue Authority among others are making inspections and site visits to markets and shopping centres.

The inspections will among other things seek to ensure that there are no practices of hoarding, overpricing or any other retail malpractices.

She noted that currently, all goods in the market were acquired at ordinary costs before the coronavirus outbreak meaning that there is no justification for adjustment of prices.

Hakuziyaremye said that the government has been holding discussions with retailers and traders and can confirm that there are adequate supplies for over two months at ordinary prices.

For food items, she said that the harvest of the first season of this year was good guaranteeing adequate food supply at ordinary prices.

She also discouraged panic and bulk buying noting that there are adequate suppliers for all market categories and retailers will remain operational.

Hakuziyaremye noted that they had received reports of a section of traders preying on the ignorance of the public and selling substandard goods or falsifying product descriptions.

For instance, a buyer claimed that a local pharmacist sold them glycerin claiming it serves the same purpose as sanitizers.

In other instances, retailers were selling substandard products.

Hakuziyaremye said that the Food and Drug Authority and the Rwanda Standards Bureau was looking into such cases and would take adequate measures to ensure that all products sold for precautionary measures are effective.