The Independent Consumer & Competition Commission (ICCC) has informed business houses not to increase the prices of certain items by 10%.
ICCC CEO, Paulus Ain said for any increase in prices for goods, business houses must seek the approval of the ICCC.
ICCC warned that those who fail to comply will face a penalty of K10, 000.
“Our next exercise will be to deploy staff into the provincial towns and districts to cross check if the business house have been complying with ICC’s directions.
“On the Government’s relief package, the ICCC is willing to assist the government by enforcing some of these decisions in relation to fuel and key house hold items”.
Mr. Ain added that as of May, 8th, 2022, ICCC will remove from its calculation template, the GST import duty from 0.05 toea to 0.00 toea and excise duty of 0.61 toea for petrol and 0.23 toea for Diesel.
“The ICCC will ensure that these are reflected on the retail outlet pump prices around the country. Those who fail to comply will be prosecuted,” said Mr. Ain.