Minister Harris signs new Price Control Order to reduce cost of living
 |
|
Hon. Timothy Harris (photo by Erasmus Williams)
|
BASSETERRE, ST. KITTS, OCTOBER 31ST 2007 (CUOPM) – As the Denzil Douglas Labour Party Administration continues to monitor the cost of living issue in the twin-island Federation, the Cabinet has been informed that Minister of Industry, Commerce and Consumer Affairs, Dr. the Hon. Timothy Harris has signed the Price Control Order to give effect to Cabinet’s decision with respect to the new basket of goods.
More information will be given at a Press Conference planned for Thursday morning.
Minister of State for Information, Sen. the Hon. Nigel Carty said the new Price Control Order is but the first step in the government’s strategy to deal with the cost of living issue.
“The second approach will be to reduce the duty on certain items in the basket as we move to Phase IV of the Common External Tariff (CET) under the Caricom Trade agreement,” said Minister Carty.
He disclosed that the Honourable Minister of Industry and Commerce will shortly brief the Press on the details of the new Price Control Order.~~Adz:Right~~
Permanent Secretary in the Ministry, Ambassador Roslyn Hazelle said the Press Conference has been scheduled for the Parliamentary Lounge, Government Headquarters on Thursday 1st November at 10:00 A.M.
Residents of St. Kitts and Nevis were given the assurance from Government to do whatever is necessary to protect them from the excessive cost of living.
Prime Minister Hon. Dr. Denzil L. Douglas said his St. Kitts-Nevis Labour Government fully appreciates that economic growth tends go hand in hand with increased inflation.
“We are therefore taking pre-emptive action to protect our people from excessive increases in the cost of living. We have identified a number of basic goods that exert considerable influence on the cost of living in our Federation and we are proposing to collaborate with the private sector to reduce the price of these goods through a combination of tax exemptions and reduced margins,” said Prime Minister Douglas.
He reiterated his government’s intention to introduce appropriate legislation to support this process where necessary and will strengthen the monitoring mechanism to ensure full compliance with the agreed prices or margins in respect of the specified goods.
