Baby Formula, Rice, Flour, and Sugar are amongst the 26 goods and services identified by the National Government where there will be some control over their retail prices.
The Independent Consumer and Competition Commission (ICCC) as the Government Agency responsible for Price Control Measures says the new price measures is to prevent price gouging in light of inflation due to increase in fuel prices.
ICCC Commissioner, Paulus Ain said this is pursuant to the National Pandemic Act 2020 with the current price measures expiring on the 16 April 2022.
“The ICCC including provincial Business Development Officers will be inspecting shops throughout the country to ensure these measures are followed,” said Mr. Ain.
Meanwhile CEO of PNG Manufacturer’s Council, Chey Scovell has described the call by the national government on the removal of Goods and Services Tax on selected essential goods as a rushed decision.
But ICCC on the other hand says if a business breaches these measures, it will be fined close to K10,000.
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