Monday, February 26, 2024
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Price ceiling set on eight food items

Hakim Hayat

The Department of Economic Planning and Statistics (DEPS) of the Ministry of Finance and Economy (MoFE) and the Department of Agriculture and Agrifood of the Ministry of Primary Resources and Tourism (MPRT) has set a two-month ceiling price on eight food items in view of Ramadhan and Syawal.

The revised maximum prices of these selected food items will come into effect from 01 Ramadhan until 30 Syawal 1443 Hijrah.

This is to control the pricing of high-demand food items used as main ingredients during the festive season. The move hopes to assist the public in their daily expenses, particularly for the festivities, and is part of government efforts to mitigate the current increase in food prices.

Maximum prices have been set on whole chicken, chicken eggs, cattle meat (basic meat not including meat from premium breeds and premium cuts), butter, margarine, ghee, flour as well as condensed, evaporated and cream milk. The list of maximum prices is available on the PenggunaBijak mobile app and the DEPS website.” 

Businesses are advised to maintain healthy competition by offering competitive prices below the set maximum prices.

This initiative is an addition to the price ceiling set on a number of essential food items including cooking oil, baby formula, rice and sugar.

DEPS reminded that under the Price Control Act Order (Amended), 2021, effective November 23, 2021, legal action can be taken on businesses found not to be adhering to the seasonal price ceiling, under Cap 10B, Price Control Act, Chapter 142, with a compound not exceeding BND1,000. For a subsequent offence, the penalty is a maximum fine of BND20,000 and five years imprisonment.

Queries on the seasonal maximum prices directive can be directed to Darussalam line 123 or mobile application PenggunaBijak.

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