The price of 20 food items including the price of fuels are expected to decrease within days as the Commerce Commission will now stop wholesalers and retailers from having the increased percentage prices on the basic food items as per the new pricing models.
Items subject to the new pricing models include milk of all kinds, baby milk, baby food, imported butter, chicken, corned beef and mutton, edible oils, ghee, imported fish and other seafood items, margarine, noodles, onions, imported potatoes, imported rice, sheep meat as classified, sugar, tea, medicine, premium unleaded petrol, kerosene, white benzene and premixed outboard fuel.
Attorney General and Minister for Commerce Aiyaz Sayed-Khaiyum said new price control measures introduced by Government will stop the price distortions occurring on food items under price control.
Sayed-Khaiyum said the Commerce Commission has found that the prices have increased because many of the wholesalers in the country are also the retailers and they apply double or triple markup on items.
Sayed Khaiyum said the Commerce Commission will now monitor wholesalers and retailers and put a stop to this practice.
The Attorney General also sent out a word of caution to retailers that they must adhere to the law, otherwise they have to face the consequences.
Story by: Roneel Lal
