Price Monitoring Team Cracks Down on Price Hikes in Belize

Price Monitoring Team Cracks Down on Price Hikes in Belize

Earlier this week, we told you that the price monitoring team from the Ministry of Enterprise will being their work in ensuring that store owners are not illegally hiking prices, and that they are abiding by the new ceiling markup on goods.  It is a situation that the Belize Chamber of Commerce and Industry (BCCI) knew was brewing; but it wasn’t until they heard our news interview with Minister Abelardo Mai, that they realized the time for monitoring and ticketing was here.  President of the BCCI, Marcello Blake, told the media that they were taken by surprise, and that they needed more time.

With the enactment of SI 87 and 88, the BCCI hands are tied as retailers and store owners are now expected to comply with the law.  According to President Blake, prior to the passing of the statutory instruments, the chamber had met with government officials, but it seems that their concerns had gone unheard and unconsidered. This, he says, could pose challenges for the business owners and their profits.

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