Inflation: experts want MPs should push grocer CEOs to disclose margins on food
Ottawa: MPs are all set to take on the CEOs of Canada’s largest grocery stores with a long hand. Experts believe that MPs want to find out how grocery stores are earning so much in this period of recession. The MPs want to bring in complete transparency in the matter.
The CEO and President of Loblaw Cos. Ltd, and Empire Co. Ltd, which operates chains such as Sobeys, Safeway and Fresco, will testify before the House of Agriculture Committee on Wednesday as part of a study of the continuous rise in food prices.
It is pertinent to mention here that CEOs of other companies have already presented their stand in this regard before the MPs.
But the NDP had specifically objected to why the CEOs themselves do not testify in the case. The proposal to know the side of the industry leaders was made by the party’s agriculture critic Alistair McGregor and it received overwhelming support from the Liberal, Conservative and Bloc Quebec MPs present on the committee.
