ICCC issues more than 50 notices

THE Independent Consumer and Competition Commission (ICCC) has issued more than 50 infringement notices to a number of shops in National Capital District (NCD) in the first week of its nationwide price surveillance exercise.
This is to curb price gouging which may occur during this inflationary period.
ICCC chief executive officer Paulus Ain said there were about 150 shops in NCD that were inspected last year during the phase 1 exercise. The number of shops during this phase 2 exercise could be less following the Jan 10 civil unrest that resulted in the looting of shops.
However, the ICCC officers have inspected 70 shops in the first week and issued 50 infringement notices to a number of shops for increasing the prices of goods listed in Schedule 1 of the Price Controls No. 4 (Measure No. 4) above 10 per cent. The phase 2 price inspection exercise continues this week.
“Since Tuesday, Feb 27, ICCC officers have been inspecting shops in various suburbs throughout Port Moresby, including parts of Central province within close proximity of the city to ensure that prices of the declared goods listed in Schedule 1 of the Measure No.4 have not increased beyond the 10 per cent limit,” Ain said.
Ain warned the shops issued infringement notices to settle their K10,000 fines within 14 days.
“If they fail to payu the fine, we will take them to court for breaching Price Measure No. 4.”
Ain also pointed out that rice was the main product or food item that saw traders increasing their prices above 10 per cent without seeking prior approval from the ICCC.
“The ICCC acknowledges that prices are increasing due to increases at the supply end, however, traders must approach the ICCC to seek approval before increasing the price of listed goods.
“While some shops have increased the price of goods, the ICCC notes that some have maintained their prices not above the 10 per cent limit, and the ICCC commends them.”