Free market 'best form of price control'

The Chamber of Commerce and Enterprise has reiterated its belief that the free market is the best form of price control to the benefit of the consumer and the authorities.

It was referring to comments made by Labour leader Alfred Sant at a party activity in Marsa on Sunday when he said Labour "would give more power to the price control agency".

The Chamber said a certain element of monitoring and control is necessary and acceptable provided that this is performed within reasonable parameters.

"However, if controls are excessive, they would merely serve to inflict added bureaucracy and inconvenience on the entrepreneur.

"The local market is mature and competitive. Such is the level of competition that if a company adopted a pricing policy which is not in tune with the realities of the market, it would be immediately out-priced from the market," it said.

Meanwhile, the Chamber said it has been encouraging its members to join the Fair initiative as well as to enter into binding agreements with the National Euro Changeover Committee (NECC), to assure level prices over the course of the changeover.