8 Nov 2010

Fiji price adjustments now expected within days

2:39 pm on 8 November 2010

The Fiji Retailers Association says it's confident problems surrounding a price reduction order can be resolved within a few days.

Last week, the Commerce Commission announced that a price drop of between 12 and 20 percent on 23 basic household items would be imposed from last Saturday.

But there have been reports of some retailers withdrawing stock from shelves rather than selling at the reduced prices.

The interim Commerce Minister Aiyaz Sayed-Khaiyum has now given retailers until tomorrow to make further submissions on the order.

The Retailers Association President Himmat Lodhia says he believes adjustments will now be made to prices.

He says a few shops withdrew a small number of items from sale because the new prices were based on discrepancies between wholesale and retail prices.

"Problems created a situation in which the merchants were given orders to retail the merchandise at below what it would be costing them. So you would not buy something for a hundred dollars and sell it for ninety."

Himmat Lodhia says consumers should not have been affected as some shops continued to sell goods at a loss.