The Fijian Competition and Consumer Commission (FCCC) is dedicated to protecting consumer interests and has pledged to fight against corporate greed that takes advantage of Fijians in light of increasing living expenses. FCCC Chief Executive Officer Joel Abraham stated that the commission will take action against any entities that undermine consumer welfare.
“We will not allow corporate greed to compromise consumer welfare,” Mr. Abraham emphasized, highlighting ongoing market surveillance and regulatory efforts aimed at enforcing fair pricing.
The FCCC is stepping up its initiatives to safeguard consumers through a market investigation into pricing practices, particularly concerning essential goods and services. The commission has expressed specific concern regarding the food sector, where escalating prices are putting pressure on households.
“Making excessive profits at the expense of our citizens is morally wrong and should not be permitted,” he remarked.
In its strategic approach, the FCCC is working with various stakeholders to implement market-driven solutions and foster competition. Recent dialogues with FMF Foods Ltd have already led to significant price drops for key products such as soybean oil and milk powder.
The FCCC is also set to impose price controls on ghee, an essential item for festive occasions, following substantial price hikes in recent months. Furthermore, the commission is initiating its first competition case to tackle anti-competitive behavior within the supermarket industry.
Mr. Abraham noted that this marks a transition towards more proactive enforcement to enhance competitive markets, which will ultimately benefit consumers through improved prices and services.