JA may see price reduction

The government has announced it will be doing everything possible to ensure a reduction in the price of goods and services to consumers.



The Government says it intends to stabilize any form of collusion or monopoly in the marketplace.



Junior Minister for Industry, Investment and Commerce, Michael Stern said the government does not intend to return to price regulation or price fixing. Instead of imposing sanctions on business operators, the government will be making an appeal to morals.



The junior minister added that if this initiative does not work, the Jamaica Commodity Trading Company will be mandated to import the goods and services to drive down the price to consumers.



The government is also willing to publicise the cheapest sources of various commodities



Minister of State in the ministry of Industry, Investment and Commerce, Michael Stern.