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Sir Louis knocks importers of cement for jacking up price

Sir Louis knocks importers of cement for jacking up price

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Acting Prime Minister Sir Louis Straker warned on Monday that Government will make an example of importers of cement who are engaging in ripping off consumers by selling the product above the price control set by Government.

Sir Louis noted that efforts would be made to prosecute persons found engaging in this illegal act.{{more}}

According to Sir Louis, some consumers have found themselves paying up to $23 for a sack of cement.

Sir Louis said all importers of cement are required by law to submit to the Ministry of Trade, price calculations sheets so that the prices can be verified before sale, but so far some importers have not been complying with the requirement.

At present there is no maximum wholesale price set for cement, but rather a maximum retail price, which is landed cost, plus $1.50 per sack.

Cement is a price controlled item as per the Price and Distribution of Goods Act CAP 117 of the Revised Laws of St.Vincent and the Grenadines 1990. This gives Government the right to set the maximum selling price at which cement is to be sold.

Cement has been a product of scarcity in St.Vincent and the Grenadines. But Sir Louis said this is no fault of the Government but rather a result of global demands on one hand, and the Cricket World Cup (CWC) on the other.

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