OFFICERS of the Department of Economic Planning and Development (JPKE) who conducted a surprise inspection recently found five business premises in Temburong District selling items exceeding the set maximum price.
The business premises were found to have committed offences under the Price Control Act, Chapter 142 and its Regulations including selling items exceeding the set maximum price for cooking oil, rice and sugar; and selling cooking oil through unknown sources which have not been assigned a maximum price by JPKE.
Businesses received explanation on updated price lists containing ceiling price of controlled items issued by JPKE, as listed in the Price Control Act, Chapter 142 and its Regulations. The price lists are consistently updated and available online in JPKE’s official website and SmartConsumers mobile application.
Failure to comply with the Act can be penalised with a compound not exceeding $1,000; a fine of $5,000 and two years’ imprisonment for the first offence; or a fine of $20,000 and five years’ imprisonment for a repeated offence.
During the visit, the Deputy Permanent Secretary (Economy and Finance) at the Prime Minister’s Office, Pengiran Hajah Siti Nirmala binti Pengiran Haji Mohammad highlighted to the business owners that the Price Control Act, regulates the prices and charges of 22 price controlled items specified in the law.
The items are rice (Thai Hom Mali, Thai rice and glutinous rice), sugar (white, refined, granulated, cane sugar, fine grain), plain flour, formulated powdered milk, milk (condensed and evaporated), cigarettes and tobacco, motor gasoline Premium 97, motor gasoline Super 92, motor gasoline Regular 85, dual purpose kerosene, bottled liquefied petroleum gas, cooking oil (canola, corn, palm, vegetables, sunflower and soya bean), reinforcement bar, sand, stone (aggregate ¾), cement, bitumen, asphalt, ready-mix concrete, bricks (clay); and passenger motor vehicles.
JPKE sets maximum prices for four types of goods namely, cooking oil, formulated powdered milk, passenger motor vehicle, and bricks (clay). The maximum prices for other essential goods such as rice and sugar are set by Division of Supply and State Stores, Treasury Department, Ministry of Finance. These specific goods will be reviewed from time to time.
Goods other than those listed in the Price Control Act are determined by traders themselves through economic forces of supply and demand. Consumers have a right to compare and choose their purchase. This is to ensure and to maintain a healthy and fair business environment in Brunei Darussalam.
JPKE advised the public to practise the concept of ‘Smart Consumer’, that is comparing prices of different stores before making any purchase to get the best value for money.
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