Luis Frauca on price control: ‘That brings shortages, it has even brought more expensive products’

The measure of price control or the regulation of products has brought with it various opinions, such is the case of the president of the Industrial Union of Panama (SIP), Luis Frauca, who affirmed that historically this measure has not worked.

He explained that since before the pandemic due to Covid-19, we have found increases in costs, freight, fuel, so “when prices have been set without taking into account what the costs have been, how they fluctuate, how the supply chain is completely destabilized, it is very difficult for the producer, even for the importer, with these variable costs, that someone determines without having knowledge of the price of a product, does not make any sense”. At the same time, he asserted that “this brings shortages, it can even bring and has brought higher prices for products, that is simple and they are not evaluating it at any table.”

Frauca also made reference to the single dialogue table and the beginning of a second phase, expressing that it is not just reaching a review of agreements, it is reaching agreements. “When you make decisions about a party that was not at the table, we cannot talk about agreements, there have been no agreements and the result of that is that none of the measures that have been taken, except for fuel, but from the sector private decisions were made in which we were not consulted,” he said.

He specified that a second phase cannot be entered if there is no methodology.

“We have to take something into account, when the Catholic Church wants to get out of mediation, to be facilitators, that is more than proof that it has been a failure because the Church normally, in many situations more difficult than these, have been there We have to redo this again to be able to reach agreements, the other thing is that there has to be a real representation of those who claim to represent and that I think has been approved very well because they do not represent anyone, “he concluded.



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