Consumer Protect in the offing

A new consumer protection agency is expected to be set up enjoying powers to monitor prices, give out information and deal with consumers' complaints.

The agency, called Consumer Protect, will be born through the reform of the existent Consumer and Competition Division and was announced by Finance Minister Tonio Fenech during a programme on Net TV last night.

He did not say when the agency would start operating, although a law on the division's reform is expected to be presented to Parliament by the end of the year. More information is expected in the coming weeks.

The agency will be divided into two directorates, one taking care of consumer outreach and a price observatory directorate.

The Nationalist Party had promised the setting up of such an agency in its electoral manifesto, which said that it was appropriate to monitor the prices of essential items, like food and medicines, with the aim of fighting an increased cost of living.

The agency will come after Malta bucked the European trend in the past years in terms of inflation, especially on food prices and medicines.