Concerns are growing over pricing practices in the market.
Minister for Trade and SMEs, Manoa Kamikamica, has emphasized the need for heightened regulation to address what he described as excessive profit margins and potential consumer exploitation.
“Basically, what we are seriously looking at is increased price regulation,” Mr. Kamikamica said.
He mentioned that the Fiji Competition and Consumer Commission (FCCC) is working on research, in collaboration with the Consumer Council, to assess the current market landscape.
According to Mr. Kamikamica, this research aims to identify areas where tighter regulations may be necessary to curb perceived abuses in pricing strategies.
He also indicated that these measures are being considered due to widespread concerns over certain traders implementing a 5 percent increase before the budget is passed.
“We may have to regulate more tightly because there’s too much abuse going on. In terms of margins, they are too high on some products.”
Mr. Kamikamica noted that the proposed regulatory changes are expected to target these problematic areas in the market where pricing practices are deemed unfair.