Commerce seeks extension of price freeze
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Concerned about rising inflation and the slow pace of economic recovery, the Commerce Ministry plans to ask food and consumer-goods producers to freeze their prices for a while beyond the end of the November, when the current price-freeze period expires.
The ministry will also ask manufacturers and traders to support the government’s plan to “present a gift” to consumers during the New Year festive period by reducing goods prices for a few weeks.
Commerce Minister General Chatchai Sarikulya said yesterday that given the current economic circumstances, and the absence of higher fuel prices, the ministry would soon meet with the country’s leading consumer-goods manufacturers and traders, asking them to keep their prices unchanged until next year.
The government projects the economy will grow by between 1.5 per cent and 2 per cent this year, and by 4 per cent next year.
“Goods manufacturers and traders should agree to maintain their prices during a period of recovering economic growth, as consumer purchasing power has just rebounded,” said Chatchai.
During the last meeting with leading goods and food producers, companies had agreed that they would not immediately increase retail prices when the freeze period ended, he added.
To bring back happiness for Thais, Chatchai said the government, under the instruction of Prime Minister Prayut Chan-o-cha, would launch a campaign to present a gift to consumers – with the prices of more than 10 goods items being cut during the New Year festive period.
The price of goods in many categories will be reduced nationwide, he said, adding that not only would supermarkets join the project, but the campaign would also encourage other retail outlets around the country to take part, said the minister.
Meanwhile, the ministry’s Prices and Services Act Committee yesterday agreed to relax a regulation on rice and cassava trading between provinces and districts, in order to ensure that farmers are not pressured to sell their produce at cheap prices by local millers or middlemen.
The ministry will now only stringently control rice and cassava trading in cross-border provinces and districts, for volumes of more than 10 tonnes.
The measure is aimed at preventing circumvention as a result of crops entering from neighbouring countries.
In a separate matter, the commerce minister yesterday assigned the Intellectual Property Department to short cut the period for IPR registration in order to enhance competitiveness vis a vis other Asean countries under upcoming regional integration.
