President of Jamaica Manufacturers and Exporters Association, John Mahfood, is rejecting the feasibility of placing a Cap on the price of fuel at the pumps.
Mr. Mahfood says this flies in the face of free market principles.
Barbadian consumers will be paying less for gasoline and diesel come Friday, as Prime Minister Mia Mottley announced that the price of fuel at the pump will be capped.
Prime Minister Mottley stressed that this adjustment was necessary to give some level of predictability to consumers and those people whose livelihood depended on gasoline and diesel.
However, Mr. Mahfood says it’s not in the best interest of the Government of Jamaica to follow suit.
The JMEA President says the government has other options at its disposal to reduce the cost of fuel to consumers such as limiting the taxes charged.
John Mahfood, President of Jamaica Manufacturers and Exporters Association.