This country’s business sector complains that their finances have taken a big hit from government’s price compact.
And, they say they can’t afford to continue with the price control scheme after the current deal expires in January.
The six-month deal was agreed between government and retailers, manufacturers and distributors in July.
It caps the mark-ups on a list of almost 50 items including caned and dry goods, toiletries and meat products.
Chairman of the Retail and Distribution Group of the Barbados Chamber of Commerce and Industry, Tomlinson Bynoe, tells Starcom Network News the price compact has created significant challenges for retailers and distributors because of the significantly reduced mark-ups.
He sought to explain how businesses have been affected.
Chairman of the Retail and Distribution Group of the Barbados Chamber of Commerce and Industry, Tomlinson Bynoe.