“I want the people of the country to not have to bleed through the nose to be able to acquire these products in order for them to continue with some semblance of normality.”
Premier Wayne Panton
(CMR) Premier Wayne Panton made it clear on Tuesday morning that he would not tolerate lateral flow test (LFT) price gouging in the Cayman Islands and wanted to see the price come down. His comments come at a time when it is increasingly difficult to find LFT in the Cayman Islands.
Noting that he had seen prices up to $10.00 for this essential pandemic product he stated if necessary the PACT government would step in to regulate the pricing if necessary.
Premier Panton said. “I know what the prices are, as I’ve been closely watching it. We need the cost to stay low so people can afford them.” He also confirmed that the government made the product duty-free so that the savings could be passed onto the consumers. He went on to say that retailers needed to be considerate of the need for the product and whilst he respected them making a profit he could not support the overcharging.
When informed that lateral float tests were priced around $10 each in the United States he noted that this was not the States and overpricing of this product would not be allowed in this jurisdiction.
CMR has seen one person selling LFT for $15.00 per test.
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