Business

PM To Grocers: Decrease Profit Margins For A Moment

NASSAU, BAHAMAS – Amid ongoing concerns from the Retail Grocers Association over gazetted price margins, the PM is asking them to take a profit cut, at least for now.

Published

1 year ago

December 24, 2022

Berthony McDermott

NASSAU, BAHAMAS – Amid ongoing concerns from the Retail Grocers Association over gazetted price margins, the Prime Minister is asking them to take a profit cut, at least for now.

Grocers have spoken out against new margins placed on 38 categories of items announced by the government back in October.

Earlier this month it was revealed that some grocers failed to change their prices.

On the sidelines of a check presentation to St. Johns College on Friday, the Prime Minister said everyone has to pitch in.

In the days leading up to Christmas, grocery stores across the island were packed with last-minute shoppers.

Despite efforts by the government, there were still complaints that some items were priced too high.

But Davis telling reporters the government has suffered a hit to its revenue in hopes of providing some relief to consumers.