Last week, you saw the letter from the Chamber of Commerce saying that they were not consulted regarding the proposed new price control system that was presented to Cabinet. It included a maximum 15% markup on food items and 20% on non food items. The list was created to fight against inflation but the BCCI says retailers won't be able to handle that.
Today the PM said that the purpose is to reduce instances of price gouging, and the BCCI should have cautioned their members from before.
John Briceno, Prime Minister
"I think when you look at the statistics that the Statistical Institute of Belize issued, it was I think last week. It pointed out that inflation has gone down to about 3% overall, but when you look at food, the inflation in food items prices have gone up - it's over like 12%. Obviously, something is wrong that there are unscrupulous business people that are taking advantage of people, especially poor people and I make no apology for something like that, that we have to go after them."
'Whilst we have not met with the Belize Chamber of Commerce and Industry officially, we have met with the importers, we have met with some of the biggest retailers and telling them guys this is getting out of hand. If you do not do something about it, we will have to act."
"We have a responsibility to protect to the interest of our people and if we believe that you are price gouging then we are going to act and if you were to ask anybody around this country, everybody will tell you they believe that these stores are price gouging that they are raising the price."
"I mean one day something cost $1.25, the following day its cost $2.00. I mean its ridiculous."
"Now the BCCI if they were interested also and we will meet with them. Mt CEO has written a letter to them, but they also should have been proactive. They should have been cautioning to their members and telling them if you don't do something, government is going to act. We will meet with them and we will find how best we could address this issue. But this issue of price gouging must come to an end."
