Competition defeats need for price controls - Chamber
The Malta Chamber of Commerce and Enterprise in reaction to comments by Labour leader Alfred Sant, has insisted that competition defeats the need for price controls.The Chamber commented after Dr Sant was reported saying that "Labour would give more...
The Malta Chamber of Commerce and Enterprise in reaction to comments by Labour leader Alfred Sant, has insisted that competition defeats the need for price controls.
The Chamber commented after Dr Sant was reported saying that "Labour would give more power to the price control agency".
"The Chamber declares that its members should not be unduly harassed by price controls. 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 Chamber said.
It added that it was a firm believer in free market forces. The local market was mature and competitive. Such was the level of competition that if a company adopted a pricing policy which was not in tune with the realities of the market, it would be immediately out-priced from the market.
"The Chamber believes that the free market is the best form of price control to the benefit of the consumer and the authorities."
It added that 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 euro changeover.
The Chamber commented after Dr Sant was reported saying that "Labour would give more power to the price control agency".
"The Chamber declares that its members should not be unduly harassed by price controls. 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 Chamber said.
It added that it was a firm believer in free market forces. The local market was mature and competitive. Such was the level of competition that if a company adopted a pricing policy which was not in tune with the realities of the market, it would be immediately out-priced from the market.
"The Chamber believes that the free market is the best form of price control to the benefit of the consumer and the authorities."
It added that 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 euro changeover.