The current re-modeling of the 20 price control items will be for imported items only and only on existing price controlled items.
Minister for Trade and Commerce, Aiyaz Sayed Khaiyum said that the current pricing model being used by businesses and importers is thirty years old.
He stressed that there has been confusion over the item that fall under the new pricing model however clearly states that the pricing model will only be on imported items.
He added that the change is needed as the way of doing business has changed adding that the ones to likely suffer are big chain stores.
Meanwhile, effective from last Thursday the prices of the items listed under the new price control order will be interim prices until the Commerce Commission sets the new prices on these items.
Items now under interim prices and subject to the new pricing models include milk of all kinds, baby milk, baby food, imported butter, chicken, corned beef and mutton, edible oil, ghee, imported fish and other seafood items, margarine, noodles, onions, imported potatoes, imported rice, sheep meat as classified, sugar, tea, medicine, premium unleaded petrol, kerosene, white benzene and premixed outboard fuel.
Story by: Paradise Tabucala
Pricing model will only be on imported items
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