A Seasonal Maximum Price Setting will be implemented on selected food items throughout the month of Ramadhan until the first week of Syawal to maintain affordability and accessibility of essential goods during this celebratory period, said the Department of Economic Planning and Statistics (JPES), Ministry of Finance and Economy in collaboration with the Department of Agriculture and Agrifood, Ministry of Primary Resources and Tourism (MPRT) in a statement on Thursday.
The initiative’s purpose is to safeguard the interests of consumers by preventing unscrupulous price increase in view of increased demand and to promote a fair and competitive marketplace where businesses compete based on the quality of their products and services.
In addition to the government’s long-term price control measures on cooking oil, formulated infant powdered milk, rice and sugar, other essential food items will be subject to seasonal price control including whole chicken, chicken eggs, butter, margarine, ghee, flour and condensed, evaporated and cream milk.
The list of maximum prices is available in the PenggunaBijak mobile application or on the JPES website at www.deps.mofe.gov.bn. Businesses are advised to practice healthy competition by offering competitive prices, below the set maximum prices.
Action can be taken against businesses found selling above the maximum price. Non-compliants will be issued a compound not exceeding BND1,000.00 under Chapter 10B, Price Control Act, Chapter 142. Subsequent offences can be faced with a maximum fine of BND20,000 and imprisonment for five years.
Consumers can report instances of unfair pricing to JPES, Talian Darussalam 123 or the PenggunaBijak mobile application, by including complete supporting documents such as payment receipts and photos.
