PM Briceño Responds to Chambers Concerns About Price Control

While Bottom Dollar is counting down to August thirty-first to shutter its business, Prime Minister John Briceño has weighed in once again on the unrelenting issue of price gouging in the retail market.  His response follows a recent letter by the Belize Chamber of Commerce and Industry, during which several concerns were raised by the private sector, including the issue of price control.  According to the organization, it was never consulted on government’s policy to expand the price control list and impose a fifteen and twenty percent maximum markup.  Here’s how PM Briceño responded.

Prime Minister John Briceño

Prime Minister John Briceño

“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 is it three percent?  I think it’s three percent overall, but when you look at food, food items, the inflation on food items and prices have gone up.  I’m trying to remember the right number but it’s like over twelve percent.  Obviously, something is wrong, that there are unscrupulous business people that are taking advantage of people, especially poor people and I make no apologies 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, we have to, if you do not do something about it, we will have to act.”  We have a responsibility to protect 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 costs $1.25, the following day it costs $2.00, I mean it’s ridiculous.”