Top News > letters

No Photo Available

Find ways to bring down costs 6/29/2012 The current high price regime to which Barbadian consumers are exposed in purchasing goods and services is difficult to reverse, but some effort but can be made to ease the squeeze on consumers. There is definitely a role to be played by the Fair Trading Commission to regulate and regularise prices. Price controls are hard to impose on a full range of items but some items which are essential to the existence of the low-income segment of consumers. Importers should hire consolidators in the overseas market and pay them for their services. It is more prudent to ship a full container of goods than one which is half empty. Importers can ship goods and share container space. Some sort of morality is needed. Some wholesalers source their products directly from the manufacturers and thus benefit from buying in bulk. Despite the duties and taxes there must be savings that can be passed onto consumers, even if this results in making less profit. If there is profiteering or price-gouging those who perpetrate these practices should have a heart and understand that the cost of living is too high given the level of wages paid to most Barbadians. The distribution sector needs to be studied as there may be duplication and this in itself may lead to increased prices. Wherever the distribution sector is too long this can lead to an increase in prices as each tier of the chain has to get an increment for their efforts. There is also the need for more efficiency in the Port and at Customs and Excise. Time is money. Philip Hunte Email us your comments. | Top

Bridgetown Weather Forecast, Barbados

>