Archive for the ‘Economic state’ Category

Rs 100 one pound!

Tuesday, March 24th, 2009

Rs 100.00 one pound of love apple…. Lovely love apple!!! rs 100.00 one pound… Incredible. Since one week, prices of vegetables keep increasing and the cerise sur le gateau is now the vegetable which rentre dan tous la sauce. Peuhhhh!!! Hard to be a vegetarian these days!!!

Stimulus package!

Tuesday, March 10th, 2009

Today i receive a mail which for me is like a trouvaille. The author of this article strongly criticised the Grand Argentier’s stiumulus package. According to Sithanen, the package is supposed to help us face the economic crisis which is sriking us right into our face.

The stimulus package provides no registration nor land transfer tax for a developer who carries out estate building worth MUR 50 million or more. Neither the seller nor the buyer will be required to pay registration tax.  I agree that this is an attempt to attract more FDI but at the same time it could encourage money laundering. What do you think? A secong illovo deal as the author mentioned??

APM!

Friday, October 3rd, 2008

The APM committee met on Thursday to decide on the price of petrol and diesel for the next 4 months. Much to our expectations, following the curbing of petrol prices on the world market, the price of petrol met a 5% decrease to become MUR 46.80 instead of MUR49.50 per litre. Heavy oil rose from MUR 15.8117 to MUR 18.97  while diesel suffered a maximum increase of 20%. The new price as from Thursday midnight was MUR 51.20 Now more than ever, companies are complaining about the bitter increase and as usual, it is expected that price of bus fare, bread and other local commodities too will increase. Once again the Mauritian population will suffer in silence.

Panier bazar!

Friday, September 26th, 2008

Today while looking at panier bazar, i could only be surprised at the price of porc meat. I knew 5 years back that the price of one pound of meat was Rs45.00 Then there was the issue of infected pigs. At that time the price was Rs 90.00 Now to my utter surprise, it has risen to Rs 130 per pound!!!! Ouahhh 300 percent increase. Unbelievable!

Does someone know the price of one pound of beef or poultry? Considering the price increase spiral, guess that those too have suffered the same fate. What about the price of vegetables? Guess that those too have risen… Ki pou manger do??

Hard to digest!

Sunday, January 20th, 2008

For how long Mauritians will bear the ever increasing cost of living.? After the nth increase in various commodities, flour and bread henceforth weigh heavy in the the household’s basket. The traditional pain maison which was sold at rs 2.15 is now available at rs 2.65. The baguette is now priced at rs 5.50, a rise of rs 1.0. Flour per pound is selling at rs 6.90 It is to be expected that following the price increase in flour, derivatives such as dholl puri, ‘roti’, cakes will cost higher. I remember getting 10 pairs  of dholl puri with rs 30., but now with this same amount, i can get only 3 pairs,  with less dholl. The association of bread manufacturers shows some relief with the decision taken by the government but nonetheless expected a higher increase.

I think it’s high time that i bake my own bread. Some flour. yeast and water and hop everything in the oven. But with the hectic life Mauritians are, it is in silence that they will be bearing the ever increasing cost of living. What will be the next target, water?? Will there be a declic, if any?

Price escalation!

Saturday, August 4th, 2007

As expected every month there should be a basic necessity whose price needs to be reviewed upwards. In the papers yesterday there was an article on  a possible price increase in electricity, a 15% increase as from September 2007. The parties concerned did not confirm nor deny the news. However those consuming less than75kwh will be exempted from the rise… What’s next?

Flambee de l’essence!

Tuesday, July 3rd, 2007

As from today, 3rd July 2007. price of petrol per litre has risen to Rs 39, which represent a 20% increase. As for diesel its price has risen only by 4.76% to reach Rs 29.70. The price increases have been decided following the meeting of APM (Automatic Pricing Mechanism), which was held yesterday. The rise has been justified following the global crises in petroleum products-the strike in Nigeria, the geopolitical problems in the mid east and the ever increasing demand from India, China and the USA. Oil barrel has reached USD 70 on the global market.

There is a growing concern among the public about the eventual rise of domestic gas also in October. It is common to see gas stations close earlier when there are speculations about price increase thereby increasing their windfall gains.  Thus as usual, consumers get penalised. The price of petrol has reached its peak of Rs 40.60 in October 2006 while that of diesel was Rs 32.75 in Jul 2006 before both begin fluctuating again..

Black market for foreign currencies!

Friday, January 26th, 2007

Yesterday, i opened my mail to be surprised by the contents of my credit card statement. I made a purchase on the internet at the start of the month, and guess what! The rate at which the institution is charging me is 3% higher (nearly topping 70) than the official exchange rate. It seems that this practice is quite common especially in this season (where foreign currencies are scarce), and that despite a “rappel a l’ordre” from the governor of the bank of Mauritius at the end of last year. And what surprised me more is that nobody is protesting against this matter of fact.

I remember someone talking about the subject, but then i was completely uninterested about it. I knew there was a shortage of currencies, and perhaps the rate he was talking about is an official one. I was completely wrong. The rate is one operating in the black market. When you ask for foreign currencies in a commercial bank, the operator would tell you there is a shortage, and that you should place an order for such currencies, and would forward you some papers to fill in. Another official in another bank when asked when would the currencies be available, the reply was “it would depend on what price you are prepared to pay”. I mean, if you target to make quick money, then it is in foreign currency dealings that you should be in. The dealers are making lots of money on our heads and we are supporting them in silence. They make “la pluie et le beau temps”

Close down!

Wednesday, November 1st, 2006

Today when reading the papers, i was dazzled at the news. Desbro (the steel manufacturer) is going to cease industrial production of bars because of sustained reduction in profits. The ministry of commerce did not agree to the increase in bar prices. The production halted, and a meeting is being organised with the personnel for their eventual redeployment. This scenario ressembles a lot the revendications of bread manufacturers, where finally the govt acceded to the price rise.

The country seems to be undergoing recession. I do not know for other companies but the trend is that there seems to be drop down in commercial activities lately.

Much ado abt nothing!

Thursday, October 26th, 2006

Much fuss is about the 1 hour black out which occurred on Sunday morning. The belle Vue Central thermal station rejected the blame CEB is placing on it. A South African expert has been invited for an independent finding on the matter. Much ado about nothing..