The Fijian Competition and Consumer Commission (FCCC) is dedicated to protecting consumer interests and has promised to fight against corporate greed that takes advantage of Fijians during times of increasing living costs. FCCC CEO Joel Abraham stated that they will take action against those who threaten consumer welfare.
“We will not permit corporate greed to undermine consumer welfare,” Mr. Abraham emphasized, highlighting the ongoing market monitoring and regulatory actions designed to ensure fair pricing practices.
The FCCC is ramping up its efforts to protect consumers by conducting a market inquiry focused on pricing practices related to essential goods and services. The commission expressed particular concern for the food industry, where rising costs are putting pressure on households.
“Making excessive profits at the expense of our people is morally wrong and must not be tolerated,” he added.
To implement market-based solutions and enhance competition, the FCCC is working closely with various stakeholders. Recent negotiations with FMF Foods Ltd have led to significant price cuts for key items such as soybean oil and milk powder.
Additionally, the FCCC is preparing to impose price controls on ghee, a crucial product for holiday festivities, due to a recent sharp increase in its price. The commission is also set to launch its first competition case to tackle anti-competitive behaviors in the supermarket industry.
Mr. Abraham remarked that this represents a move towards more proactive enforcement aimed at promoting competitive markets, which would ultimately benefit consumers with better prices and services.