This country’s retailers, manufacturers and distributors promise that there will be no hike in food prices from tomorrow.
The prices compact that was due to expire today is being extended, pending agreement on details of a new deal.
Business leaders met yesterday with government officials and then among themselves, just one day before government’s price control compact with the Social Partnership was due to end today January 31st.
Leading business figures had previously indicated the price control mechanism would be extended due to the effect it was having on the finances of the supermarkets and wholesalers.
The six-month deal was agreed in July last year between government, retailers, manufacturers and distributors.
It caps the mark-ups on a list of almost 50 items including canned and dry goods, toiletries and meat products.
The latest position has been announced by President of the Chamber of Commerce and Industry, Anthony Branker, in an interview with Starcom Network News.
Mr. Branker revealed that the business sector has proposed some changes they want included in the new deal.
President of the Chamber of Commerce and Industry, Anthony Branker.
