• Submitted by: lena campos
• Business and Economy
• 11 / 22 / 2013

---

Cuba will begin to apply, as an experiment, a new concept by means of which several State-run companies will have the authority to sell wholesale to Cuban legal entities, the media reported here today.

The note clarified that the companies would do so, once they have fulfilled their contracts and taking into account the market demands, covering all costs, expenses and tax obligations.

Several entities will be involved, assisted by the ministries of Industries, Construction and Energy and Mines.

This decision will also contribute to gradual extension of the wholesale market.

It will also grant freedom to companies to approve the wholesale prices according to supply and demand, and will permit discounts, according to quality, delivery and marketing conditions, large-volume sales and other marketing issues.

The note also said this is expected to allow companies to increase their sales and profits, something that constitutes a source of recapitalization and an increase in workers' incomes.

This experiment is an advance of what will be applied gradually in the country's State-run business system, starting from January, 2014, the media said.

Source Prensa latina