Most countries have assigned price controls to the trash heap of history, but not The Bahamas at least where URCA is concerned.
If the law gives them the authority to do so or not, it boggles the mind that the Utilities Regulation and Competition Authority (URCA) would see fit to set prices for the local cable company.
Should the cable company be over charging for their services the consumer will find a way around it, by using satellite dishes etc.
Better still, why not say to Cable Bahamas, sure you can raise your prices and seek to review their license and allow competition. That way, the consumer will be better served.
Besides, the action by URCA is a direct contradiction of what their name implies. They're not encouraging competition, they're stifling it!
Read the summary publication of the URCA Decision, CBL's SuperBasic Price Application, here...
Read the complete release (pdf) here…
You might also like to read, Forty Centuries of Wage And Price Controls by Robert L. Schuettinger and Eamonn F. Butler for a better understanding of one of the most ridiculous public policies ever conceived. Download a pdf here…
