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15 July, 2024
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PEO concerned about increase in fuel and basic consumer products

Pancyprian Federation of Labor calls on the Cyprus government to take action immediately

Source: CNA

The Pancyprian Federation of Labor (PEO) has expressed its concern about the continuous upward trend in fuel prices, which, as it notes, "will add to the cost of basic consumer products".

In a statement, PEO stated that "the increases have no end, as the upward trend of fuels is expected to continue in the next period, with further chain increases in other consumer goods."

It added that "the new increases that have been imposed, but also those that will come soon, burden the workers, the low-income retirees, the vulnerable groups of the population who will again pay the price."

PEO has criticized the Cyprus government, stating that "once again (the government) watches with apathy trying to convince people that there is no problem and there is no need to do anything."

"The government must stop blaming and pre-empting obstacles for any type of intervention that will alleviate the problem for the people," PEO said, noting that "when the interests of big business or banks are at stake, the government takes action immediately".

PEO reiterates its proposals and demands "the full restoration of the Automatic index Adjustment (ATA) expanded to all employees as a mechanism to restore the purchasing power of wages, increase welfare benefits to compensate for the increased cost of living and the reduction of VAT on basic consumer products".

It also proposes "reduction of VAT and other charges on electricity for as long as the wave of increases continues, utilization of the mechanism to impose a ceiling on prices of basic consumer products and the intensification of market controls by activating the mechanisms of the Ministry of Commerce to address profiteering in times of crisis”.


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