MIAMI, United States.- The Cuban regime established the decentralization of a group of retail prices in Cuban pesos (CUP) for products that are marketed by chain stores and related entities, in accordance with Resolution 81 of 2022 of the Ministry of Finance and Prices (MFP), as reported on Tuesday by the official media outlet Cubadebate.
The new regulation, issued by the MFP in the Official Gazette of the Republic of Cuba No. 38 (ordinary), now passes to the heads of chain stores and other marketing entities the power to approve product prices.
The bosses will have the power to decide how much the items they have available will cost except for a group that is considered essential, such as edible oils, chicken thighs and drumsticks, and minced poultry and beef.
According to the information, these measures will be taken under the supervision of the president of the Business Administration Group (GAESA), Luis Alberto Rodríguez López-Calleja, who will inform “this Ministry about the results obtained from the decentralization process, at the end of the year. 2022”.
Products with a controlled price also include economic line national hygiene and cleaning items, such as toilet and bath soap, detergents, toothpaste, deodorants and blankets, and Havana Club rum.
According to the Cubadebate note, the new rule indicates that when setting prices “current general principles are taken into account, with a comprehensive evaluation of costs and expenses with criteria of rationality and efficiency, as well as the correlation with market benchmarks”.
The new Resolution annuls Resolution 346, issued by Meisi Bolaños, Minister of the MFP, which established “centralized retail prices of products that are marketed by chain stores, except for the selection of the specified economic line.”
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