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The government of Seychelles has decided to introduce new measures to mitigate the impact of price rise and consequent high cost of living
The government of Seychelles has decided to introduce new measures to mitigate the impact of price rise and consequent high cost of living.
As of October 1, 2022, prices o some commodities are going to be capped. Commodities falling in category one will have a maximum retail price (MRP). This will remain for one year.
These are essential commodities, which are imported by the Seychelles Trading Company (STC). They will be sold at a price no higher than that set by STC during the coming one-year span to help alleviate the pressures of increased prices on the population.
The commodities that fall under this category include sunflower oil, rice, sugar, milk powder, lentils, salt, margarine, flour, toilet paper, infant formula, onions, potatoes, apples, and oranges.
The MRP will only affect the brands imported by STC and will not affect those imported by other wholesalers and retailers in the country, however. The Fair Trading Commission (FTC) will be tasked with ensuring that all retailers respect the MRP when it comes into effect on October 1.
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https://trendsnafrica.com/seychelles-amends-the-method-of-valuation-of-foreign-owned-properties/
Another measure announced was that boats that transport commodities between the three main islands of Mahe, Praslin, and La Digue, will receive a 25 percent excise tax concession on their fuel used. This will be for a period of one year. The country is also contemplating introducing a Fisheries Satellite Account.
