By Fay Simmons
Tribune Business Reporter
jsimmons@tribunemedia.net
A Cabinet minister yesterday said the Government "feels inclined" to expand price controls on food and medicines, after previous such initiatives ended earlier this year, as it takes a "stand for consumer rights".
Michael Halkitis, minister of economic affairs, speaking at the opening of the new Tonique Williams Highway offices for the Government's Consumer Affairs and Consumer Protection units, said the administration is constantly seeking to balance the need for businesses to earn a profit with protecting consumers from price gouging.
“A strong consumer protection regime ensures that the rights of consumers are firstly known, and secondly respected and adhered to, by all local businesses," he said. "What we want is to ensure that buyers of goods and services are safeguarded against unfair practices in the marketplace.
"It is critical that the ecosystem of supply and demand, price and profitability, works for both businesses and consumers to achieve economic growth, inclusivity and sustainable national development. There are also key areas, such as pharmaceuticals and food, where the Government feels inclined to offer protection against inflated prices for the good of the nation.”
Mr Halkitis maintained that price controls do not prohibit companies from making a profit but, rather, curtail how much profit can be made. “Price controls in The Bahamas do not stop a merchant from making a profit; they simply dictate how much of a profit can be made on a particular item. Where businesses infringe upon the allowed mark-ups there are avenues for effective dispute resolution and potential redress for consumers and providers," he added.
Prime Minister Philip Davis KC, meanwhile, said his administration is committed to ensuring all Bahamians have access to basic goods and services as he aims to balance corporate profitability with consumer affordability.
He added: “As we inaugurate the consumer affairs building today, we are making a clear statement. We stand for consumer rights. We envision this building as a pillar of consumer protection, casting a shadow of security across every corner of our beloved nation, especially our cherished Family Islands.
“We are committed to enforcing our social protection safety nets and ensuring that all Bahamians have access to basic goods and services. We believe in a thriving business environment where profitability and affordability co-exists. Our ongoing dialogue with retailers aims to create a balance that fosters business growth while preserving consumer affordability.”
Mr Davis said reforms to the Consumer Protection Act, already tabled in the House of Assembly for their first reading, will give consumers more rights, while deceptive business practices will be dealt with assiduously. He added: “We are enhancing the Consumer Protection Act. Amendments are coming and they are about giving the consumers a louder voice and stronger rights.
"For example, Bahamians living abroad can now lodge a complaint. The Consumer Commission will be empowered to alert you to harmful practices. Businesses will be required to be licensed and registered, and deceptive conduct, harassment and coercive selling practices will be addressed more comprehensively.
“These, and further steps, are taken to ensure a more organised framework, clearer definitions and stronger protection for consumers. We are championing the importance of customer service because we believe it can stimulate economic growth and provide better experiences for consumers.”
Mr Halikitis said the Consumer Affairs Unit ensures that the Price Control and Rent Control Acts are enforced, while the Consumer Protection Commission ensures the Consumer Protection Act is enforced. He added: “Consumer affairs officers are authorised by the minister to enter and inspect any premises where goods are sold, or services are rendered.
“The Consumer Protection Commission is charged with policing and enforcing the Consumer Protection Act, which facilitates an avenue for consumers to receive fair settlement of claims, including compensation for misrepresentation, shoddy goods, or unfair and unsatisfactory services and or goods. In addition, the Consumer Protection Commission serves as the main voice for consumer advocacy and education.”
Mr Halkitis said the Commission is going digital, and staff training has already started. He added that this will allow personnel to access records quickly, and allow merchants to submit price adjustments digitally.
He added: “We are also digitising the inspection process. Our e-Bahamas promotion has commenced with the Department of Transformation and Digitisation, and a private entity, having embarked on the acquisition of new technology with software and tablet training given to all consumer affairs inspectorate staff.
"Applications and software, developed to enhance and modernise the consumer affairs inspectorate, were field tested in March 2023 by the consumer affairs inspectorate and the department of digitisation. These advancements will allow inspectors to analyse digital records in real time and allow merchants to submit price adjustments digitally.”
“We are expanding our presence on social media and other digital spaces to improve consumer education and awareness as we fully embrace what it means to have a robust consumer resource centre. Our goal is to strengthen partnerships with NGOs (non-governmental organisations) and government agencies," the minister added.
"In tandem, we are seeking to develop relationships with consumer advocacy groups, providers of goods and services and business associations to assist with resolution and to bolster the ecosystem for better consumer protection.”
Mr Halkitis said consumer protection offices are on five Family Islands, in addition to New Providence and Grand Bahama, and services are set to expand throughout the Family Islands. He added that community outreach activities and public service announcements are planned to allow consumers to voice concerns.
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