Moreno outlines new plan to control prices

Domestic Trade Secretary Guillermo Moreno has warned the government will control business sector profits during the second semester of the year in a new official attempt to reduce prices.

“He explained to us that a jean can not cost 10 or 15 dollars in the US and 50 in Argentina and that it must be a product similar to the 15 (price) here,” entrepeneur Ricardo Bruzzese said as he referred to the plan Moreno outlined during a meeting held yesterday with other business leaders.

The government’s strategy would not be to force companies to have maximum prices but to demand that at least basic products are aligned with international prices.

“We think it can help to improve competitiveness and protect the nacional industry,” head of the General Economic Confederations Ider Peretti considered in statements to a local newspaper.

On her behalf, Yolanda Durán of the Chamber of Chinese Supermarkets (Cedeapsa) pointed out that the Trade Secretary confirmed that there will be no 61-day deadline regarding the 3-month accord to freeze prices and that his office is moving towards the creation of the so called “Supercard”, a single payment method for supermarket purchases and that seeks banks to reduce the 3 per cent commission they charge for every credit card purchase to 1 per cent.