Wholesalers, retailers and importers have no choice but to prepare to operate with reduced profit margins as the Commerce Commission sets out to rectify the anomaly in prices through the new pricing models.
Fiji Retailers Association President Himmat Lodhia said it was common knowledge in the import and wholesale sector to place triple mark up certain prices in the past because they were allowed to do so in the previous price control order.
Lodhia said the new price order is of concern to traders but they will now have to ensure to pass on reduced prices to the consumers.
The Commerce Commission is now awaiting detailed information from importers, wholesalers and retailers on cost of importing and purchasing various items now under price control before it sets the new prices on these imported items.
Story by: Roneel Lal
Traders ready to pass reduced prices to consumers
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