NASSAU, BAHAMAS — Negotiations between the government and food retailers over the Price Control Basket expansion have been extended to next Friday, according to Communications Director Latrae Rahming.
Rahming said: “The government is committed to broad public consultation with all stakeholders. We will extend the period of conversation to next week Friday. The government recognizes that we have to share the burden in this effort to fight against the global economic crisis; they will get an extension to next week Friday.”
“I can say that the government recognizes that we have to share the burden. The negotiations are ongoing.”
He added: “There is no place we have arrived at in the negotiations so I suspect that the stakeholders will put to the government their concerns and the government would have to review any accommodations but it would be premature for me to say what that may be during the negotiations.”
Economic Affairs Minister Michael Halkitis said on Tuesday that the government would not delay the roll-out of its price control expansion plans despite serious concerns and pushback from the local food wholesale and retail industry, adding that the government expected to have resolved all the issues by yesterday.
According to the Retail Grocers Association, while the government has announced that 38 items would be added to the Price Control Basket, it is in actuality 38 categories of foodstuffs, which would affect more than 5,000 items to which inventory and price adjustments would have to be made.
The association has argued that the move would be detrimental to the local food wholesale and retail industry.
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