INFLATION: Private sector accused of abuses in the marketing chain

Business leaders who on Monday, April 25  turned up for an emergency meeting called by President Martinelli because of the fuel crisis, got instead a lecture on abuses by the private sector.

They were told that the  cost of living in Panama is being affected by abuses in the  marketing chain

The  remarks were  delivered in an "emergency meeting" that was to have brought together business groups  to discuss the economic impact of rising fuel.

Alberto Vallarino, Minister of Economy and Finance, said that "we have observed that the private sector are definitely delivering many abuses”  He cited reports of the Authority for Consumer Protection and Competition, in which there are differences of up to $30 and $70 dollars in the prices of  the basic food basket, depending on where purchased.

Anthony Fletcher, president of the National Council of Private Enterprise, denied that there was abuse in the marketing chain. "I think these are very fast value judgments without having all the elements considered, "he added.

Martinelli's meeting with his economic team and the business leaders was on the eve of his trip to Washington to meet , Barack Obama, and was responding to pressure from political and popular sectors for the high cost of living.

Due to the rising price of crude oil, the government temporarily froze the price of some fuel.