Dominican merchants would trim markups if…

Santo Domingo.- With the objective that the prices of the products of the basic basket do not reach the final consumer so high, merchants promised the National Institute for the Protection of Consumer Rights (Pro Consumer) to standardize profit margins .

However, the representative of the Dominican Federation of Merchants, Iván García, said that the price reduction will take place when the government accepts the import sector’s proposal.

“The price reduction is going to come from the government executing the measures that we are requesting, which is the issue of reducing the cost of taxes in customs, with the issue of freight, and also that there is a free importation of industrialized products, that we can sell 30 percent cheaper.”

He calculated that the freight, rising from US$3,000 to US$18,000, and the cost of the merchandise is US$20,000, plus the US$2,000 of insurance, is US$40,000 that must be paid in the entire process for a container.