Pravind Jugnauth Issues Strong Warning to Businesses Over Price Increases

During a meeting held on Tuesday, November 5, in Chemin-Grenier, located in constituency number 14, outgoing Prime Minister Pravind Jugnauth strongly criticized companies that are attempting to manipulate product prices.

He emphasized the negative impact that such practices have on the population, stating, “It is not our responsibility to succumb to these actions that harm the people.

We have a clear philosophy: as the country progresses and develops, businesses should aim for profit, but this profit must not come at the expense of the citizens.

We must avoid causing further hardship for the residents of our nation.

Companies should not bypass regulations or exploit situations when we are working to assist the most vulnerable among us.”

Jugnauth also expressed his frustration, asserting, “No one should take advantage of this population, nor should anyone steal food from the people.”

The leader of the Alliance Lepep party accused his political opponents of being involved in underhanded dealings with certain businesses with whom they maintain favorable relationships.

He specifically mentioned United Basalt Products (UBP), which recently announced price increases of 5% for aggregates, a 4% increase for standard concrete blocks, and a 5% hike for concrete pipes.

UBP has justified these price adjustments by citing the economic conditions affecting their operations and the need to ensure the sustainability of their products.

“I am sending a clear warning to these companies. Are they trying to play a political game? Well, they should wait and see. I have taken note of this,” Jugnauth said.

“Do not target me, do not play with the people. Do not come to steal the money of the people, do not come to take away their food,” he added.

Following his remarks, Jugnauth announced that Renganaden Padayachy, the outgoing Minister of Finance, would hold a press conference the following day.

Source: l’Express