Categorized | National News

PM Warns of Price Gouging During Hurricane

As the country faces the threat of Hurricane Irma, Prime Minister Dr. Hubert Minnis advised merchants that price gouging is a criminal offence.


A statement issued by the Office of the Prime Minister yesterday explained the offence and plans to begin a programme to monitor prices.


“The Office of Prime Minister wishes to advise the general public and all retailers and wholesalers of essential items, particularly breadbasket food items, medical and prescription drug supplies as well as hurricane preparedness items, such as plywood and nails, that ‘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 advent of a potential natural disaster are criminal offences under the terms of the Price Control Act and the regulations made under that Act,” the statement read.


As a result, it was noted that Dr. Minnis has instructed the Prices Commission to commence a programme of strict supervision, review and monitoring of the prices being charged for the mentioned essential items, starting immediately.


The prime minister also urged the commission to report any suspected violations to the Office of the Attorney General which has, in consultation with the Director of Public Prosecutions and the Royal Bahamas Police Force, committed to aggressively investigate any information which might indicate any of the elements of what is termed “price gouging,” and to act accordingly, should such evidence be found.



Written by Jones Bahamas

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