Categorized | National News

Govt Imposes $8,000 Fine for Price Gouging

The government imposed an $8,000 fine to mitigate the prevalence of businesses raising the prices of necessary items for consumers during the hurricane season.

Minister of Labour Dion Foulkes yesterday sent out a stern warning to merchants.

“We would like to advise all merchants in The Bahamas that it is an offence under the Price Control Act and the Consumer Protection Act. The total fine if you combine both acts is an $8,000 penalty for that,” he said.

“Also there is a risk of losing the business licence. So we would like to encourage merchants not not take advantage from an illegal point and also from a moral point.”

Should price gouging take place, consumers are urged to call a special hotline set up for this offense.

“We want to encourage them to dial our hotline numbers. They are 376-1507 or 376-5125,” he said.

“They are open from 9 a.m. to 9 p.m. everyday leading up to the hurricane and a week after the hurricane.”

Additionally, the minister of labour said the government has also been informed by the three largest distributors of gas and diesel in the country that they are fully stocked.

“They assured us there is no possibility of running out and any other news that says otherwise is false,” Mr. Foulkes said.

When asked if there was anything that could have been done differently during Hurricane Matthew, Mr. Foulkes said he could not completely say.

He said what he did know was that he read the newspapers as well and this time around they just want to mitigate any repeat of unnecessary panic.

Written by Jones Bahamas

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