A new joint task force has been established in Fiji to closely monitor prices and ensure that the benefits of tax reductions are passed on to consumers. This initiative includes representatives from the Fijian Competition and Consumer Commission, Consumer Council, Fiji Revenue and Customs Services, and the Ministry of Finance.
Deputy Prime Minister and Finance Minister Professor Biman Prasad emphasized that the task force will recommend immediate policy measures when necessary. This may include imposing price controls on certain items, reducing or removing tariff protections for local manufacturers engaging in unreasonable pricing, and implementing punitive measures such as fines for non-compliance.
Prasad warned businesses against hoarding the tax and duty reductions, stating that such actions would not be tolerated. The government’s efforts for economic reform also aim to dismantle long-standing trade barriers and reduce import tariffs, a move intended to combat high food prices and enhance market competition, as highlighted in previous discussions regarding the 2025-2026 Budget.
This new task force’s efforts are set against the backdrop of ongoing initiatives to monitor and combat unfair pricing practices across the nation. The Fijian Competition and Consumer Commission has reported conducting price surveys to safeguard consumer rights, and it is expected that these combined efforts will contribute positively to market fairness.
These proactive measures demonstrate a commitment to ensuring that economic reforms lead to tangible benefits for the citizens of Fiji, particularly in alleviating the cost of living amid challenging economic conditions. The initiative also reflects a broader goal of fostering a competitive and fair marketplace, sending a hopeful message to consumers about the government’s dedication to protecting their interests.
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