TRNC government plans measures to tackle unnecessary price hikes

The TRNC Council of Ministers said it plans to combat unwarranted price rises using penalties as a deterrent.

This was made known following a meeting on Friday last week to discuss how to tackle rising prices of commodities in the country. However, no statement regarding the outcome of that meeting has been made as yet. 

Speaking on a television broadcast on Thursday, Minister of Labour and Social Security, Sadık Gardiyanoğlu, referring to the forthcoming Cabinet meeting, announced that “Penalties and inspections will be applied if necessary for exorbitant, senseless price hikes. We will do this in the strictest manner“.

Yeniduzen contacted Minister Gardiyanoğlu, to ask about the outcome of the ministerial meeting which lasted around two hours. He responded by saying that he did not have the authority to announce any decisions made. And that it was up to the spokesperson for the Council of Ministers to give out that information.

According to the Institute of Statistics annual inflation in North Cyprus rose to 83.62 percent as of December 2023.