The GRTU, Chamber of Small and Medium Enterprises, yesterday called on the Prime Minister, as Minister of Finance, to legislate against fees which banks and credit card firms impose on the issue and use of the cards.

The legislation should be brought in before the changeover to the euro.

The charges were abusive, the GRTU said, explaining that it was referring to fees the banks charge consumers on credit cards each year, and on charges imposed by banks and credit card firms on business owners for each transaction in which a credit card is used.

The GRTU also objected to the Lm7 tax levied on every credit card and paid by the holders. This was an abusive tax and represented an unjust burden imposed by the government on consumers.

The changes should be introduced now so that the changeover to the European currency would truly be facilitated, the GRTU said.

Traders were burdened with heavy penalties for price changes of a few mils but the authorities should ensure that the banks and credit card firms, and the government itself, did not impose on traders and consumers unnecessary burdens and costs simply because they were in a position of strength.

It was simply a question of honesty and justice on the part of those who ruled, the GRTU said.