Display of prices in Lm and euro (1)

I refer to the letter by Duncan Cardona regarding dual display in shops. The dual display guidelines published by NECC are to be followed in this regard.

The guidelines outline the parameters governing the required reporting of prices, values and monetary amounts of goods and services offered to the consumer, in both Maltese lira and euro and how such provision of information can be achieved. The guidelines also outline the period of voluntary dual display, being January 1 to June 30, 2007, preceding the mandatory period, being July 1, 2007 to June 30, 2008.

For translating the counter values in dual display, the central parity rate (€1 = Lm0.4293) should be applied. Dual displays should be as such as to enable a consumer to read and understand prices and other monetary amounts easily and correctly and to be able to compare them to the national currency.

Cases similar to the ones reported by Mr Cardona are to be referred to Linja Ewro 154 or e-mailed to euro@gov.mt. During the last weeks, NECC has contacted owners of establishments who are not carrying out dual display as stipulated by the guidelines and a largely positive response was noticed from such establishments, who are immediately complying with the recommendations given by the NECC.

Similar cases will very soon be tackled within a legal framework which is being put into place and the government's enforcement mechanism, that is, the Euro Observatory within the Ministry of Finance and the Consumer Affairs Division will then be able to act on such offences.

The NECC commends the vigilance being exercised by consumers at this stage of the euro changeover process since this is considered to be the best tool which the country has to ensure price stability for a smooth changeover to the euro.

In January 2007, the NECC will launch an initiative entitled Fair-pricing Agreements in Retailing (FAIR). Only businesses joining this initiative will be allowed to carry out voluntary dual display of prices. Details of this initiative can be downloaded from www.euro.gov.mt or by calling Linja Ewro 154.