There are growing concerns over pricing practices in the market.
Minister for Trade and SMEs, Manoa Kamikamica emphasised the need for heightened regulation to address what he described as excessive profit margins and potential consumer exploitation.
“Basically, what you know, what you’re now seriously looking at is increased price regulation,” Mr Kamikamica said.
“So the Fiji Competition and Consumer Commission (FCCC) is working on some research, and also Consumer Council.”
He said the FCCC was actively conducting research in collaboration with other consumer advocacy bodies to assess the present landscape.
According to Mr Kamikamica, this research aims to identify areas where tighter regulations may be necessary to curb perceived abuses in pricing strategies.
He also expressed these measures are being considered because of widespread concerns regarding certain traders implementing the 5 per cent increase before the budget passes.
“So we may have to regulate more fractures, because there’s too much abuse going on.
“In terms of people, you know, the margins are too high on some products.”
He said the proposed regulatory changes were expected to target these “fractures” in the market where pricing practices are deemed problematic.
