ICCC seeks more funding

Business, Normal

The National, Thursday March 13th, 2014

 THE success in carrying out a plan depends on how well the government supports the work of the Independent Consumer and Competition Commission (ICCC), chief executive Dr Billy Manoka said.

Speaking at the launch of the commission’s corporate plan, website and uniforms yesterday, he said this could be done by ensuring adequate funding in the 2014-16 annual budget allocations.

The three-year plan highlighted the commission’s objective to enhance the welfare of Papua New Guineans through the promotion of competition and fair trade in all markets, protecting of consumer interest and effective regulation of prices and service delivery standards of certain goods and services. 

Manoka said: “The ICCC is the only national regulatory body that acts as a consumer and business watchdog.

“For far too long, micro economic reform, which includes competition and consumer protection, has been neglected.

“With its new focus on issues throughout the economy – consumer protection –  a more stringent approach to regulation of state-owned enterprises supplying essential services; price regulation and litigation in appropriate cases – the commission needs substantial financial resources.

“The commission has made remarkable progress in the discharge of its mandate in the last corporate plan 2011-13 and has stood up to the challenges facing it.” 

Manoka signed an agreement (performance agreement) last February with the minister for Treasury identifying three major priorities. 

The priorities included the review of the Independent Consumer and Competition Commission Act 2002, market concentration-palm oil FFB authorisation and product safety standards.