PRICE CONTROL UNIT TO PROSECUTE FOR PRICE INCREASES

The Price Control Unit says it will prosecute wholesailers and Retailers who increased regulated prices. Photo: SIBC.

The Price Control Unit says it will prosecute wholesailers and Retailers who increased regulated prices. Photo: SIBC.

The Price Control Unit says it will prosecute any wholesaler or retailer in Honiara who are found to increase prices of any Price Controlled item.

In a statement today, the Unit warned wholesale and retail stores against increasing prices of basic consumable goods during the current disaster situation in the capital, and in Guadalcanal.

In a statement, the Unit says markups of all basic consumable commodities in Honiara should remain at 10 percent for wholesale and 13 percent for retail of all Price Controlled Items.

The Unit says, except Rice, which has a 6 percent wholesale mark up and 9 percent for retail.

The Unit also said all Soltuna Products prices are fixed and all shops in Honiara should already know its prices.

It says any wholesaler and retailer found to increase prices of any Price Controlled item will be prosecuted.

Meanwhile, the Price Control Unit wants people to report any sales suspected to very excessive to the Price Control Unit.

SIBC News understands the Minister of Commerce Elijah Doromuala had increased the number of goods under price control regulation and the additional goods came into effect on the first of this month.

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