NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis yesterday said that the government fully intends to enforce the price control amendments it introduced back in October.
Halkitis said that he had instructed price control inspectors to ensure the regulations were being followed in light of media reports yesterday indicating that members of the Retail Grocers Association have failed to change their prices accordingly.
Speaking with reports ahead of a Cabinet meeting yesterday, he said: “Let me just say categorically, there are no negations that will hold up the amendments. The amendments to the regulations are in place. We put them in place on October 17. We had some discussions with the retail grocers and retail pharmacists.
“We had discussions with the retail grocers where they expressed some concerns. We went back and made some adjustments, and increased some margins to account for perishables and family island transportation. We thought that was a reasonable concession to some of the concerns they raised. For all intents and purposes, the amendments are in place and we expect them to be respected.
“There was a concern raised about the issue of changing all of the prices and what we said was if it was an issue changing them individually we would allow them to have the price on the shelf until such time as all the prices can be changed individually. For all intents and purposes, the amendments are in place and we expect them to be respected.”
Retail Grocers Association president Philip Beneby told Eyewitness News last month that the association was still awaiting word from the government in response to its proposal regarding the Price Control Basket expansion. Beneby had previously confirmed that the association had rejected the government’s latest amended list of items being added to the Price Control Basket. The items on the government’s final amended price control list are the same categories of items initially gazetted.
The Retail Grocers Association has argued that while the government had announced 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.
Yesterday, Halkitis said: “I have given instructions (today) for our inspector to go out once again to inspect and where necessary to commence investigations. Since we brought on the amendments we have hired additional inspectors here in New Providence and we are in the process of engaging additional inspectors in the Family Island and giving them the resources that they require.
“So far the reports that we are getting are that the new margins are being respected but in light of what we saw being articulated to some operators (today) I have given the inspectors instructions to go out to double-check. We fully intend to enforce the law.”
Halkitis further noted that the new margins are in addition to the retailer’s costs.
“We are not asking people to sell at a loss. We think our position is entirely reasonable,” said Halkitis.
He noted that penalties for failing to cooperate with an investigation, providing documentation, and appearing before the Commission include a fine of $2,500 and six months imprisonment and $5,000 and up to 12 months in prison upon conviction.
