RCI St. Lucia
posted on January 08, 2014 10:37
The Permanent Secretary in the Ministry of Commerce is seeking to clear up what he says is a widely held public misconception of how a monopoly works.
This comes following the sale of controlling shares in Consolidated Foods Limited to Trinidadian owned firm Neal and Massy.
Mr Titus Preville notes that to use the term monopoly in referring to the supermarket chain, is not accurate in describing the distributive trade environment here, because it allows for competition.
He adds that with the recent buy out by Neal and Massy, it is now up to the private sector to decide whether there is need for greater competition in that area.
Mr Preville notes however that there is need for a competition policy to ensure that there is ease of entry into the market.