Government is considering the ‘name and shame’ approach for wholesalers and retailers who are not decreasing their prices for commodities that have fallen on the world market.
Yesterday, Head of the Presidential Secretariat, Dr. Roger Luncheon, said that as the world’s financial sector and economic crisis deepens, prices for goods and services are falling steadily.
He noted that in Guyana, consumers are reasonably expecting that those fallen prices would be reflected in the cost of procuring goods and services in market places.
According to Luncheon, Cabinet was briefed on Tuesday last on the current situation, and there was some cause for alarm since consumers were not predictably or consistently benefiting from these price decreases. He added that a call was made for strict monitoring by the relevant bodies.
The prices for bread, fuel, poultry and transportation fares continue to attract the attention of the administration, Dr. Luncheon added. On November 5 last, the General Minibus Association (GMA) said that bus fares throughout the country would be reduced.
On Wednesday, Demerara Oxygen Company (DOCOL), bottlers and distributors of TexGas in Guyana, announced price reductions, effective yesterday.
The company announced that a 9kg or 20lb cylinder of TexGas will be retailed for $2,900 in Georgetown, West Coast and West Bank Demerara, East Coast Demerara and East Bank Demerara while the price will be $3,000 in all other areas.
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