Ministry of Economic Development has warned action will be taken against businesses selling certain items above the price cap.
The economic ministry set a price cap on certain perishables on April 6, in accordance with clause 7 of the Consumer Protection Act. However, the ministry said there have been reports of some businesses selling the items above the set price cap, adding action will be taken against such businesses.
Under the measures imposed to control prices of perishables, the maximum price of a kilogram of onion has been set at USD 1.30. The price of a kilogram of potato has also been restricted to USD 1.30, while the price of a kilogram of yellow lentil has been restricted to USD 2.92. Meanwhile, the price of an egg has been restricted to USD 0.12.
The economic ministry stated any business which is found to have sold the specified items at a higher price can be fined up to USD 6,495. If the offence is repeated, the business can be closed down up to 6 months. The ministry requests the public to report businesses violating the price control measures via email.