Minister responsible for Consumer Welfare Emma Hippolyte says the Government is continuing to monitor rising prices and explore measures to ease the financial burden on consumers amid increasing fuel costs and pressure on household expenses.
Hippolyte acknowledged that international conflicts and developments in global energy markets were contributing to higher prices, while assuring the public that the Government was considering possible interventions to contain the impact on consumers.
“Within this new war with US, Ukraine, fuel prices is up in the roof. So you do one thing and others are coming,” Hippolyte said.
She added that the Government remained committed to taking proactive steps to address the situation, even as external developments continued to complicate efforts to manage the cost of living.
“But as a government I need to give you the comfort of telling you that we continue to monitor and we will continue to take proactive measures to see how best we can contain the price,” she said.
The Minister pointed to the Government’s previous spending on fuel subsidies as an indication of the measures already taken to cushion consumers from rising prices.
She recalled that Prime Minister Philip J. Pierre had disclosed that the Government subsidised gasoline and diesel between April and July at a cost of approximately EC$44.9 million.
“The Prime Minister, you may recall, a few months ago informed the general public that between April and July the government subsidised gasoline and diesel to the tune of some 44.9 million dollars,” Hippolyte said.
She stressed that the Government had sought to be transparent with the public about the financial implications of those interventions, as it continues to assess what further assistance may be possible.
“We have been open to the public to tell the public of the cost of that work. We have been open to do that,” she said.
Hippolyte also acknowledged growing concerns about electricity bills, which have added to the financial pressures facing households and businesses.
“And I know we’ve had significant pressures, especially now on the cost of your electricity bill,” she said.
The Minister indicated that the Government was continuing discussions to determine whether there were practical measures that could help consumers manage those costs.
“And again, the Prime Minister, we are continuing to engage you to select, to see what the formulas are and if there is anything at all that the government can do to assist in that regard,” Hippolyte added.
