The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT civic leader Pastor Eddie Victor believes “there needs to be a collective fight to keep down the cost of living on Grand Bahama”, especially now with rising inflation.

Mr Victor, founder of Coalition of Concerned Citizens, said decision makers must look at ways to keep prices down for consumers.

He believes it is possible inflation could reach double-digits or even higher.

In January, the US inflation rate hit a 40-year high with a 7.5 percent year-over year increase.

That same month, The Bahamas government slashed the VAT rate from 12 percent to 10 percent, however breadbasket items, which were previously zero-rated, now have the tax applied to them. Some people have complained that this has placed an added burden on the poor.

“It is going to be hard because Grand Bahamians are already struggling now, but these double digits are coming, and we are going to see even greater increases (in prices) coming,” said Pastor Victor.

“And so, it becomes necessary for persons who are in authority who make decisions that affect the cost of things to see things differently. It is not so much… of covering the expense, you got to look at how you’re going to get your customer base to pay for these things.”

Mr Victor said this includes the government, the Grand Bahama Port Authority and other decision makers.

“There needs to be a collective fight to keep down the cost of living on the island,” said the civic leader. “Like this ridiculous decision that the regulator, the Grand Bahama Port Authority, made to increase the rate of electricity on the island. That will become a major impediment to the cost of living.”

In mid-January, the Grand Bahama Port Authority announced it approved Grand Bahama Power Company’s rate case application for a base rate increase of 3.3 percent as opposed to 6.3 percent initially proposed for residential and commercial customers. The increase takes effect on April 1.

The Davis administration was against the rate increase.

“Just when the government repealed two percent on the VAT, you have a power company wanting to increase their rates - it makes no sense. There should be guardians that say, ‘hey no, we can’t do this now; we have to keep the cost of living down,’” Mr Victor said.

He believes there is going to be a widespread impact on people’s lives and finances.

“Life is about happiness. So, the cost of utilities, groceries, and other services should not rob you of your finances and leave you in a state where you cannot enjoy life. That defeats the purpose of life. It should always be enough to just do things to make you happy.”

Mr Victor commended businesses that are committed to keeping prices down. “A (food store) has publicly declared they are working to keep prices down so they can please their customers, and there are a number of businesses that have that type of mindset on Grand Bahama, and we need everyone to have that mindset on Grand Bahama,” he said.