Friday, January 28

Government extends price control only for eight products, excluding another six from the list

El Government through the Ministry of Commerce and Industries (Mici) extended maximum retail prices for six more months of eight products in the basic basket, and decided to eliminate the other six products from the list of 14 that were previously approved.

In accordance with Executive Decree 102 of December 30, 2021, which modifies Decree 165 of July 1, 2014, The following products are eliminated from the list: cassava, yams, stifled meat, onion, potato and tomato perita.

Keep on the list: bone-in tape steak, cPremium ground arne, Panama whole chicken, premium rice, powdered milk, white sliced ​​bread, processed American-type yellow cheese, and sausages containing beef.

The Decree will enter into force as of January 3, 2022 and will last for no more than six months. The The same will govern for the Republic of Panama with the exception of the province of Darien and the insular areas.

Argues that the price control measure is extended to these products as a consequence of the national emergency as a result of Covid-19, in order to protect consumer interests.

In addition, it indicates that during the validity of decree lretailers that offer the public the 42 remaining products of the basic family basket of food must inform in advance and with at least five calendar days in advance before the Authority for Consumer Protection and Defense of Competition (Acodeco) any increase in retail price and the reasons that justify said increase.

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