FIJI PROBE FINDS HARDWARE GOUGING,

admin's picture

PRICE-FIXING
Government mulls action against retailers

By Rachna Lal SUVA, Fiji (Fijilive, July 29, 2010) - An investigation by Fiji’s Commerce Commission into the country’s hardware sector has revealed that hardware companies have been marking up retail prices by as much as 34,000 percent.

Commerce Commission chairman Dr. Mahendra Reddy has handed over the investigation report into ‘unscrupulous practices’ by manufacturers, suppliers and retailers, to Attorney General Aiyaz Sayed-Khaiyum.

Reddy said there were five issues in particular that stood out.

These were:

"We have given some recommendations to the government how to deal with the investigation result and will now await the decision by the government," he said.

Sayed-Khaiyum at a press conference said the government will go over the findings and make a decision after that.

"I hope the hardware companies will be ashamed by this report which actually affects the people," he said.

Sayed-Khaiyum said that in order to have a robust economy, there was a need for a robust construction sector.

"This, not just through building hotels but in terms of having a good robust construction industry pertaining to construction of homes and various other renovations to make housing affordable for ordinary citizens in Fiji," he said.

Rate this article: 
No votes yet

Add new comment