Home LOCAL NEWS GOVT IMPLEMENTS PRICE CONTROLS ON 16 PRODUCTS

GOVT IMPLEMENTS PRICE CONTROLS ON 16 PRODUCTS

GOVT IMPLEMENTS PRICE CONTROLS ON 16 PRODUCTS

GOVT IMPLEMENTS PRICE CONTROLS ON 16 PRODUCTS | The government has placed 16 basic commodities under price control in a pricing and availability monitoring list to normalise macro-economic indicators.

Cooking oil, mealie meal, bread, flour, sugar, rice, salt, chicken, eggs, beef, fresh milk, laundry soaps, washing powder, cement, fuel and energy are now being monitored in terms of their pricing models.

The Minister of Industry and Commerce, Dr Mike Bimha said the move is being made to solve the rampant illegal price increases.

“We hope the trend will be solved because it is our duty to protect the nation,” he said.

The government has also introduced measures on foreign currency allocation to strategic industries and toll manufacturing contracts to increase product availability.

The economy has since late September this year experienced price increases, but Dr Bimha said policies are being implemented to stabilise prices.

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