Office to probe cement prices

Office to probe cement prices
07 October 2005

The Commerce Commission intends to investigate cement prices supplied for wholesale and retail purposes in Fiji and overseas.

The commission revealed their intention this week and said they would consult the relevant stakeholders before conducting the study.

Under the Commerce Act 1998, the Commission must recommend to the Minister of Commerce, Business Development and Investment the prices of goods and services if it is satisfied with the good or service provided in a limited or likely lessened competitive way or that the price control was desirable or necessary for the users, consumers and suppliers.

"An information paper on the proposed process and timetable for the market and price analysis study has been provided to the stakeholders seeking comments to be forwarded to the Commission no later than October 23," the Commission said.

"Furthermore, the Commission intends to meet with all interested parties to discuss the process and timetable and proposes that a joint meeting be organised preferably between October 3 and 14 at the Commission’s office at Garden City complex.

"The meeting will discuss further on the proposed process and timetable and will also discuss the study and submissions from the parties on the pricing and market analysis as well as the pricing structure and the pricing approaches."

When this edition went to press, no comments could be obtained from Basic Industries, a subsidiary of Fijian Holdings Ltd and one of the largest suppliers of cement in Fiji expected to be directly affected with the Commission’s investigations.

Published under Cement News