The Minister of Industry and Commerce, Silvino Moreno, who led the meeting, said that the proposal is based on the need to harmonize profit margins with the current situation, characterized by rising prices, as well as ensure the purchasing power of lower social classes.
Moreno pointed out that the document is expected to create a balance in order to guarantee the accommodation of private sector interests and ensure that the lower social classes continue to have the purchasing power of basic products.
It should be noted that this proposal also aims to regulate the profit margin of some construction sector items, such as iron and zinc plate, where the proposed maximum profit margin is increased to 8% wholesalers and 12% retailers.
On the private sector side, the proposal is welcomed, as it will reduce unfair competition by improving the business environment in the country.
However, it does not welcome the proposed formula for calculating the maximum profit margin, arguing that the calculation should consider all variables related to production factors, from the issue of transport, rent, as well as some specific characteristics of each product, so as not to fall into the error of applying the same percentage of profit margin on tomatoes and eggs, since the deterioration time of these products are asymmetric.
The CTA has asked for more time to ensure greater inclusion in the collection of private sector contributions and has promised to submit the opinion in the next two weeks.
