The Government has finalised work on controlling the price of goods in the country and the new schedule pending legal clearance from the Attorney General’s Office for execution.
‘Price fixing’ is necessary to avoid the commercial sector taking advantage of the current situation to increase the price of goods and services in and around the country.
A statement from the Ministry of Commerce, Industries, and Labour & Immigration said the Price Control Division have begun the process last week.
“This is now urgent as consumers fear the price of goods and services will sky rocket in the weeks ahead as imports are expected to freeze for an indefinite period,” the statement said.
The final list of goods has been finalised and will be formalised this week.
The statement said shops and businesses that failed to comply will be fined or have their business license terminated.
The price list will also be published when it is gazetted.