Should government control prices on fuel, rent and essential food items?

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Drexwell Seymour is from the Turks and Caicos Islands. He graduated with a Bachelor of Arts degree in Accounting at age 19 and a MBA in Finance at age 20. In 1992 at age 22, he took and passed all four parts of the CPA exam. He is currently part of a credit union exploratory committee and hopes to have credit unions established soon in the TCI. He is an author, his articles are also posted on his website www.drexwellseymour.com

By Drexwell Seymour

Prices are too high

I know many are against price control and therefore, would rather have an economy, that is market-driven. I am also aware that prices are increasing worldwide and so consumers will continue to face an increase in prices.

However, to protect the consumers financially, the government needs to step in and control the prices of fuel and essential food items. The government can do this by setting minimum and maximum prices on certain items and this can be further achieved if the government reduces the duties on certain items.

You see consumers don’t trust the merchants and they don’t believe some merchants are applying any savings to the price of goods and so the best way to do control this is to have price control.

For this article, I did a survey on the prices of fuel, groceries and rent and compared them among the various places on the islands of Providenciales as well as Nassau, The Bahamas and Miami Florida.

Fuel prices

Fuel comprises gas and diesel and the prices vary. Sometimes we read something, and we believe it is true and so we say something about it. No matter what someone put in the public domain, do your research first before you say something. There are two sides to a story and sometimes there are three sides to a story.

Sometimes people will attack you and so you respond because you want to clarify what they say. Sometimes these individuals who attack you are using fictitious names and you believe you know who they are and so you call them out. I don’t think you should respond because what will happen is, that it will be a continuous attack each time you respond. The best response is to ignore them and do what is right.

There are also some things or conversations that are none of our business but sometimes we get involve in other people’s business. We must learn to be quiet and stay out of people’s business.

If you are just going to say something just to say something and no action, it is best to be quiet.

If you don’t know anything about the subject, it is best to be quiet because based on your response, people will know that you don’t know what you are talking about

Conclusion

Proverbs 17:28 states: “Even a fool is considered wise if he keeps silent, and discerning when he holds his tongue. Even though I talk and write a lot, there are some conversations and issues, I simply decide to be silent even though my mouth itches to say something. Now there are some national issues that we must open our mouths and speak out against because silence may mean consent or silence may mean you don’t care.”

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