Following information that certain retailers are currently reselling essential commodities imported by the Seychelles Trading Company (STC) at an increased mark-up price, Ministry of Finance, Economic Planning and Trade wishes to express its dissatisfaction and condemns such practices.
STC has as its primary role to anchor the price of the essential commodities, which it imports, in a bid to ensure that the cost of living being affordable.
The new Board appointed by President Wavel Ramkalawan, earlier this year, has a mandate to re-look at the entire operation of STC, ensuring it is upholding its primary role of anchoring pricing at an affordable rate for consumers.
Since the beginning of this month, STC has introduced a new method of advertising its recommended retail price (RRP), which is clearly labelled on the packaging of the 14 essential commodities that it imports. Included in the RRP is a markup for the retailers.
In addition to that, STC held talks with its partners, including the Retailers Association of Seychelles, and is now packaging and delivering the 14 essential commodities directly to the retailers at no extra cost to them.
The recent revelation that some retailers are removing the RRP and selling these commodities at a higher price is a clear ‘example of some retailers abusing the rights of consumers’ especially during the difficult times we are going through economically.
The Ministry acknowledges what while there is no price control in the country, it nonetheless feels that this practice is “unacceptable and has to stop immediately as during this difficult time we are going through, everyone has a role to play to ensure that the cost of living is not elevated further.”
The Ministry is calling on the Retailers Association of Seychelles to get its members to respect the Recommended Retail Price set by STC.