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Probe into rising prices


Probe into rising prices
Minister of Energy, Small Business and Entrepreneurship, Kerrie Symmonds (right) along with outgoing chairman of the Barbados National Oil Company Limited (BNOCL), Alex McDonald, in conversation following the opening of the brand new annex at the Fairy Valley headquarters of the state-owned oil importer on Tuesday. (Picture by Sandy Pitt.)

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Government says it is not yet convinced that external factors alone are responsible for price hikes in this country.

With the public outcry growing louder over the rising cost of living, including accusations of price gouging by the business sector, Minister of Energy, Small Business and Entrepreneurship Kerrie Symmonds says he has instructed the Department of Commerce to conduct a thorough review of recent price movements in Barbados.

He has also put the business community on notice that if it is found that factors other than external logistics are at play, Government will consider all options to correct the situation, including instituting price controls.

“I have asked the Department of Commerce in my ministry to look at and to give me a complete review of price movements in Barbados. (CLM)

 

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