The Government has spoken out on its intention to take proactive measures to continue to safeguard the consumers in the country.
Recently, Treasurer Ian Ling-Stuckey met with the Independent Consumer and Competition Commissioner (ICCC), Paulus Ain to discuss the cost of living. Ling Stuckey stated that he is willing to work closely with the ICCC to strengthen laws that protect consumers against predatory behavior.
The Treasurer mentioned that the recommendations that the ICCC has put forward to amend the Price Regulation Act, the Habours Act and the Packaging Act will be implemented, but at the moment is subject to National Executive Council (NEC) approval.
“There will be major increases to the penalties applied under the Price Regulation Act to deter businesses from price gouging and ripping off consumers. Amendments to the Harbours Act will mainstream smaller ports into the same regulatory framework as the larger ports, to ensure consistency in the service delivery and customer experience.”
The Treasurer said the Packaging Act is also under the scope to be amended to ensure all products sold in country are correctly labelled. He added that all pieces of legislation will be presented to parliament once cabinet has given the green light. He expressed concern that some of the benefits of the Government’s Household Assistance Package are not being passed on to ordinary Papua New Guineans.
“ICCC needs to ensure that our people are not being over-charged.”
Meanwhile, additional funding will be provided to enable ICCC to visit some provinces this year and monitor the prices of goods and services. He also urged for the ICCC to present a comprehensive price gouging enforcement plan, to be funded in the 2023 budget.