THE Independent Consumer and Competition Commission (ICCC) will prosecute 11 shops in New Ireland Province for increasing their prices above 10 per cent (10 per cent) without prior approval.
During ICCC’s nationwide price measure exercise carried out in the province recently, it was recorded that eleven shops in Kavieng and Namatanai districts were found to have increased prices of certain goods listed in Schedule 1 of the Price Measure No.4 above 10 per cent without seeking prior approval from the ICCC.
Out of 32 shops inspected, 11 shops were issued with an Infringement Notice (IN) for failing to comply with the Price Control Measure No. 4
These shops have been given 14 days if they choose to appeal the IN that was issued by the ICCC. In the appeal these shops are to justify their reasons for increasing the prices of the certain goods sold or pay a K 10,000 fine for non-compliance. Failing this, they will be taken to court by the ICCC.
ICCC Commissioner and chief executive officer Paulus Ain, who was on the ground, welcomed and acknowledged concerns by shop owners about price increases at the suppliers and wholesalers end however, cautioned them to always apply to the ICCC before increasing their prices of the scheduled goods.
He noted the retail prices for flour, cooking oil, laundry soap and sugar remained steady (reasonably flat) when the base price was collected last year during Phase 1.
However, the prices for rice have been increasing gradually and it is a concern.
Mr Ain is warning shop owners who pretend to comply with the Price Order during the price inspection exercise that this is an ongoing exercise and if they are caught, they will be penalised.
“Let this be a warning to all the shop owners that ICCC will not hesitate to penalise any shop that increases its prices of the certain goods per Schedule 1 without applying to the ICCC prior to increasing the prices,” he said.
Mr Ain said that those shops in other centres yet to be visited by the ICCC must seek approval for any price increase now to avoid being penalised.
He applauded the other shop owners for being compliant and keeping their prices at a reasonable level despite the current inflationary pressure experienced in the country.