Thursday 9 July, 2020

Businesses told 'meet consumers halfway', stop price gouging

Prime Minister Mia Mottley gave the nation a COVID-19 update this afternoon.

Prime Minister Mia Mottley gave the nation a COVID-19 update this afternoon.

Local businesses and retailers have been strongly advised against price gouging as the country's economy recovers from the three-month shutdown. 

Prime Minister Mia Mottley was speaking via a live press conference from her Ilaro Court residence when she called on local businesses to "meet the consumers halfway". 

"Ridiculous prices for goods and services will achieve nothing else than to chase people away. People are still hurting with the loss of jobs and we have to meet the consumers halfway," Mottley emphasized. 

"I am talking to Barbadian businesses large and small. Why are you trying to sell 3 for $12 when 4 for $10 is going to move the product and let you be able to put new products in shipment tomorrow. You got to study sense," she further stressed. 

 

Referring to the old saying, "little with content is great gain", the Prime Minister reminded corporate Barbados that profit margins for 2020 will be slim, and urged them to do their part during these difficult times. 

'We are not going to make any profits this year, it is about keeping people's heads above water and everybody doing a little, little to make sure that they are living," Mottley said. 

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