Mauritius’ Minister of Commerce, Dorine Chukowry, disclosed that a recent increase in petrol and diesel prices prevented the Price Stabilisation Account (PSA) from accumulating an additional Rs 700 million deficit, bringing the total to nearly Rs 6 billion.
Speaking on Radio Plus, Chukowry claimed that without this adjustment, the PSA, already at a Rs 5.2 billion deficit, would have reached almost Rs 6 billion.
While expressing a preference for stable or lower prices, she acknowledged the necessity due to decisions made by the Petroleum Pricing Committee.
Chukowry stressed that injecting Rs 5.2 billion into the PSA is the only way to anticipate a decrease, a matter now under review by the Finance Minister.
Addressing the cost of ‘homemade’ bread, Chukowry pointed out that bakers pay Rs 2.18 per half-kilogram of flour, compared to Rs 4.85 for consumers, whereas the State Trading Corporation acquires it for Rs 16. She also called for an investigation into flour quality following complaints from the Association of Bakery Owners.
In terms of “ration rice” availability, Chukowry noted that despite daily deliveries to supermarkets, a recent decrease in quantity (from 70 to 35 metric tons) has led to some shortages. She expects conditions to return ‘almost’ to normal by mid-October.
Since September 1, the Ministry of Commerce has issued 247 violations, with common offences including the failure to display prices and overcharging at checkout.
Chukowry has requested additional officers for inspections, as only 25 officers oversee the entire island.
Furthermore, she anticipates a potential Rs 7 reduction in Smatch milk prices, driven by a slight rupee appreciation.
The Association of Bakery Owners has proposed a 90 cents increase in ‘homemade’ bread prices, citing rising input costs.
However, Nasser Moraby, the association’s president, acknowledged that recent diesel price hikes may necessitate an adjustment, potentially raising prices to Rs 3.55 for ‘homemade’ bread.
Source: Defi Media
