The Commerce Commission has clarified some issues in relation to the major price reductions on basic food items that will come into effect this Saturday.
This is after some retailers raised some issues with the mark up prices to the Commission.
In a press conference, Dr Reddy said the methodology they have adopted is a standard international methodology where they base their mark up prices on the unit costs.
Dr Reddy also clarified that prices will differ for retailers in Vanua Levu and the outer islands as they have taken into account various cost factors.
He also revealed that a leading retail outlet in the country has assured the commission that they will deliver their services according to the price control order however he could not reveal the name.
Dr Reddy has also cautioned retailers not to hold on to the basic food items that is under price control order from Saturday as some concerns have been raised by members of the public.
He added that they will announce the price control on medicine by this month while work is underway to set the prices for the Hardware sector.
Dr Reddy will also be holding a meeting this afternoon with retailers to clarify various issues.
Story by: Sofaia Koroitanoa
Commission clarifies issues regarding price reduction
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