BCCI pitches plan to lower consumer prices

The Barbados Chamber of Commerce and Industry has submitted proposals to the government aimed at lowering consumer prices by changing the way taxes and duties are calculated on imported goods.

BCCI president Paul Inniss said the chamber had been in discussions with the Minister of Business and Energy over the past year about the Price Compact and the possible expansion of the basket of goods covered under the arrangement.

The BCCI had now formally presented its position, which went beyond simply expanding the categories of goods subject to the compact, he told reporters at a press briefing.