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Consumers’ wallets persecuted

03/10/2012 13:04
SEK expressed its concerns for the profiteering, the expensiveness, the high interest rates and tax evasion that hamper any prospect for progress, growth and prosperity.

“It would be no exaggeration to say that today we live in an extremely difficult period in which citizens' wallets are being persecuted”, the announcement said.

“In Cyprus, the citizens – amid the global financial crisis – pay higher interest rates, expensive electricity, eat the most expensive bread and drink the most expensive milk in Europe”, it added.

SEK urged the government to "abandon inertia and complacency” and asked to take measures, including the strengthening of competition, the containment of inflation and the protection of the standard of living.

It also expects from the government to introduce the Consumer Commissioner to protect consumers from the irresponsibility of monopolies, oligopolies and all sorts of speculators in the market and to fight tax evasion actively and effectively.

Finally, SEK requested by the consumers to be informed and assertive, to ask for receipts for their transactions and to report to competent authorities the cases of exploitation and profiteering.