The Fijian Competition and Consumer Commission (FCCC) is dedicated to protecting consumer interests and has committed to tackling corporate greed that takes advantage of Fijians during these challenging economic times.
FCCC’s chief executive officer, Joel Abraham, emphasized their intention to take action against any entities that threaten consumer welfare. He remarked, “We will not allow corporate greed to compromise consumer welfare,” highlighting the ongoing monitoring of the market and regulatory initiatives designed to ensure fair pricing practices.
The FCCC is enhancing its focus on consumer protection with a thorough examination of pricing strategies, particularly concerning essential goods and services. There is a specific emphasis on the food sector, where escalating prices are putting pressure on families.
Mr. Abraham criticized the practice of achieving excessive profits at the expense of the community, labeling it as morally wrong.
In its efforts, the FCCC is working alongside various stakeholders to implement market-based solutions and foster competition. Recent negotiations with FMF Foods Ltd have already led to significant price cuts on staple items such as soybean oil and milk powder.
Additionally, the commission is gearing up to establish price controls on ghee, a crucial item during festive occasions, in response to recent price surges. They are also set to initiate their first-ever competition case to tackle anti-competitive behaviors within the supermarket industry.
Mr. Abraham stated that this marks a proactive approach to enforcement, aimed at cultivating competitive markets, which would result in better prices and improved services for consumers.