Former Attorney General Phil Perinchief yesterday called for wholesalers who have historically enjoyed a ‘virtual monopoly’ to disclose their markups.Mr Perinchief also suggested eliminating tax on targeted goods as he put forward his own ideas for reducing prices to a level families can afford.He said he wants to sit on the Price Control Commission designed to protect people from unwarranted price increases on essential products during the recession.Capitalists should not be allowed to get rich from selling essential goods such as food, said the former Progressive Labour Party Senator.Wholesaler Jim Butterfield had declared a price freeze next to impossible as costs are driven up by factors beyond his control, while Royal Gazette Editor Bill Zuill wrote in an opinion piece that such a move would be immensely complex and difficult to police.But Mr Perinchief said he vehemently disagrees, adding that Mr Butterfield has a vested interest in wanting to sit on the panel. He said: “Like him, I too wish to be on such a panel so we can have a spirited and balanced debate he is destined to lose.“Is Jim, and other food distributors, willing to share his markup of supernormal profits with the Price Control Commission?“Let’s see if he is really making normal profits or opportunistic ones. Too long, the Bermuda public have been subjected to the gouging of these food merchants, and merchants generally, who historically have enjoyed a virtual monopoly or oligopoly.“In any event, I have a deep philosophical aversion to essential goods and services being wholly supplied by capitalists who enrich themselves from selling the necessities of life.“Food, water, medicines, a right to housing, education, like air, are fundamental to the development of the whole human being and should not be left to the Quo Fata Ferunt of what the capitalist market can bear. This is morally reprehensible.”Announcing the Price Control Commission would be set up with a three-person panel last Friday, Ms Cox warned price controls could have unintended consequences such as disrupting the supply lines.But Mr Perinchief said: “With respect, the Premier needs a new adviser. Price controls can in fact increase rather than decrease production and supply lines.“Simply put, a careful balance of reduced or no taxes or levies on targeted goods and services, a legislated profit margin or markup on such goods and services, say 30 percent to 50 precent, will in fact reduce prices and increase sales for these products.“That will therefore boost demand and increase supply lines, not decrease them.”He said of Mr Zuill’s column: “The Editor’s assertions that these matters are complex and hard to police are more fanciful than real. Figments of his imagination.“They are simply policed at the points of entry by way of the bills of lading, and at the point of sales at the cashiers desks for starters.“Not difficult. Not complex. Enough of such nonsense. I look forward to the Premier placing me on this Price Control Commission and given a chance to put real teeth in the requisite legislation. The price-takers are defenceless out here. Someone needs to step up to the plate to champion their cause.”Government previously addressed the concept of food price controls in December 2008, when then-Culture Minister Dale Butler and then-Education Minister Elvin James attended meetings with wholesalers and supermarket chains.Both noted the difficulty of imposing food price controls, and pointed to newspaper adverts detailing how a family of four could eat a nutritious meal for less than $15.Mr Butler said in a Ministerial Statement at that time: “We discussed Bermuda’s dilemma wherein we import almost all goods which are impacted by rising costs overseas.“While introducing price controls on certain food items is unlikely because of the impact this action could have on the importer of those items, Cabinet requested that consideration be given to those items which were imported duty free.“I believe it is important that the public understands that these [supermarket] chains, contrary to public perception, make every effort to minimise the cost of certain food items, where possible, and they do endeavour to keep prices as low as possible, without sacrificing quality.“Some supermarket owners commented that they have not raised their markups over the last 25 years, and noted they collectively had more than 500 specials which were advertised in the newspapers on a weekly basis.”Useful websites: www.plp.bm.