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Aug 10, 2023

B.C.C.I. for Profit or For People?

So, how does B.C.C.I. respond to the criticism that its members are only pushing back because an expanded price control list will cut into their profit margins? Well, Councilor Luis Ugarte says, while businesses exist to generate profits, for some, the proposed price control list represents twenty percent of their revenues. He explained that placing such a significant cap on a business’ ability to earn income will create a domino effect.


Luis Ugarte

Luis Ugarte, Councilor, B.C.C.I.

“Let us look beyond the profit margins, and we all are in business to make money, to create profits. Obviously you have to conscience as well and everything has a limit, but if you cap businesses, the ability to earn, then it has to have an effect on the entire population because a lot of these businesses contribute to the development of our society, be it through donations, charitable organizations, employment. I work for one of the largest importers in Belize and I can tell you that the amount of letters requesting assistance that we go through on a monthly basis is a lot. We cannot satisfy everyone but we do our best. Now if you are telling me that your ability to earn is being capped then as a business what do you do, you have to relook at what you are giving back, because you might not be able to afford it. It is being said that that list, which is over a thousand, for some businesses represent about twenty percent of their revenues, so we are talking about something substantial.”

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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