Premier Dr Natalio Wheatley says the government’s regulated basket of goods programme will begin on December 1, as part of efforts to make essential food items more affordable for residents struggling with rising living costs.
Speaking during a recent press conference Wheatley said the initiative will ensure that basic food items remain within reach for the most vulnerable members of society.
‘We are in the process of implementing a regulated basket of goods to ensure that affordable foods are available to the most vulnerable,’ he stated.
The Premier explained that mechanisms were being put in place to manage and track how the savings would reach consumers.
‘This requires mechanisms to be put in place, such as the collection of data, so we can manage and track that savings are passed along to the consumers,’ he said.
He added that Customs had been instructed to make specific adjustments to help regulate the importation of the selected items.
‘A critical part of this was to capture the volume of items coming into the territory. This required certain adjustments to be made by Customs to regulate the brokerage clearing process. This mechanism was finalised last week, and the requirements for Customs clearance of the baskets of goods will begin December 1.’
Wheatley said discussions are also underway with import brokers and suppliers to ensure that implementation runs smoothly. ‘Communication with the food importation brokers and suppliers is also being done,’ he noted.
The announcement follows months of public concern about the cost of living in the Virgin Islands, with food prices climbing amid global inflation and import costs.
He reiterated that the new system for the basket of goods was one part of a broader plan to strengthen the social safety net and protect those most affected by inflation.