Concerns are mounting over pricing practices in the market. Minister for Trade and SMEs, Manoa Kamikamica, has emphasized the need for stricter regulations to address what he describes as excessive profit margins and potential consumer exploitation.
“Basically, what you’re now seriously looking at is increased price regulation,” Mr. Kamikamica stated.
He mentioned that the Fiji Competition and Consumer Commission (FCCC) is collaborating with the Consumer Council on research efforts to evaluate the current situation. According to him, this research aims to pinpoint areas where stronger regulations might be necessary to prevent pricing abuses.
Mr. Kamikamica highlighted that these measures are being considered due to widespread concerns about certain traders implementing a 5 percent increase before the budget passes.
“So we may have to regulate more, because there’s too much abuse going on. In terms of people, the margins are too high on some products,” he remarked.
The proposed regulatory changes are expected to address problematic “fractures” in the market where pricing practices are deemed problematic.