11/05/2004 12:42
The phenomenon of profiteering has hit the domestic market for the past few days. On their joint announcement, PEO, SEK, PASYDY, DEOK, the Cyprus Consumers’ Association and the Pancyprian Consumers’ Union denounced that “the consumers have become a prey of several of people who take advantage” of the prevailing confusion after the increase in VAT to 5% for certain goods and services, the price hike in grain and the increase/decrease in duties and consumers’ taxes.
The unions have warned that they will proceed to comparative market research to end up with the safest conclusions with regard to the “unjustifiable increases” and the “real decline” in prices. The unions have also urged the government to take more effective measures for the elimination of profiteering. They have, therefore, requested the strengthening of the Competition and Consumers’ Protection Service with the appointment of new members and the increase in the penalties imposed to offenders.
The unions have warned that they will proceed to comparative market research to end up with the safest conclusions with regard to the “unjustifiable increases” and the “real decline” in prices. The unions have also urged the government to take more effective measures for the elimination of profiteering. They have, therefore, requested the strengthening of the Competition and Consumers’ Protection Service with the appointment of new members and the increase in the penalties imposed to offenders.
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