Bahamas, September 4th, 2017 – Nassau – At a press conference hosted by NEMA today, Prime Minister Hubert Minnis made sure to mention that during this hurricane season, “Price gouging and specifically the hoarding of items for speculation or profiteering as well as the marking up of prices by retailers and wholesalers in the event of a potential natural disaster are criminal offenses under the terms of the price control act and the regulations made under that act.”
As such, Minnis revealed, “I have instructed the prices commission to commence a program of strict supervision, review and monitoring of the prices being charged for the mentioned essential items starting immediately.” Adding also, “I have urged the commission to report any suspected violation to the office of the Attorney general. ” If one is found guilty of such, the office of the A.G has the approval to “act accordingly.”
This is not the first time the business community have been warned about illegally pricing items for sale, and the office of the PM stands its grounds prepared to enforce the law against any business who choices to defy it.
Story By:Kay-Marie Fletcher.