29 May 2008

Fiji sets up taksforce to look at price iincrease

3:17 pm on 29 May 2008

Fiji's interim minister of finance has launched a taskforce to look at the impact of increases in the prices of fuel and food.

This comes after earlier measures to cushion the rising price of fuel and food, such as the reduction of duty on certain basic foods.

Mahendra Chaudhry says judging from market trends, oil prices are likely to increase further, which has an impact in many areas.

He says it is important to contain the effects.

"It may mean changes to existing policies on these issues and relief can be provided to the poor and the most affected as well as to see that our government finances and our external positions remain sound."

Mahendra Chaudhry says he expects the taskforce to report back in two weeks.