Saturday, July 13, 2024
HomeBusinessCAMA wants Govt to probe on cooking oil price hike

CAMA wants Govt to probe on cooking oil price hike

LILONGWE-(MaraviPost)-Consumer Association of Malawi (CAMA) called upon the ministry of trade to investigate the cooking oil price increase.

CAMA Executive Director John Kapito told The Maravi Post in an interview on Tuesday, July 8, 2024 that the trade ministry needs to investigate and inform consumers on cooking price increase despite many strategies government had announced last year.

Kapito said government announced the opening up to many traders specifically supporting local traders to go into production of cooking oil.

“We believe that opening up of local traders last year would control unnecessary and unexplainable price increases on cooking oil,” said Kapito.

He adds that Increases of cooking oil are coming at a time when consumers are increasingly facing economic challenges and the consumer body is monitoring the market to understand the reasons behind these unfortunate increases both traders and government .

He further said government must understand that consumers are now tired with these never ending unexplained price increases which do not correspond with their incomes.

In his remarks competition and Fair Trade Commission ( CFTC)Public Relations Officer , Innocent Helema said they have observed that cooking oil scarcity on the market have taken sellers advantage to raise prices somehow.

Helema said CFTC will conduct price monitoring exercise from next week across the country to ascertain such allegations of price increases for basic goods and services including cooking oil.

“We will take to task anyone found to be violating the Competition and Fair Trading Act (CFTA)as excessive pricing is one such violation provided for in the CFTA 2024 which can attract such penalties.”said Helema.

He however said Traders must be aware that the Competition and Fair Trading Act (CFTA) of 2024, which entered into force on 1st July, 2024, provides for stiffer penalties which can be up to 10 percent of annual turnover .

Meanwhile several shops have hiked 2 litre bottle of cooking oil from MK7500 to MK10, 000.

Dorica Mtenje
Dorica Mtenjehttp://www.maravipost.com
Malosa secondary school Diploma in journalism from Blantyre Business college Been media fraternity since 2009
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Sylvester Movette zunda on Mali wedding attack kills 21
James Hastings Chidule on Malawi’ fistula recovery at 86%
WELLINGTON WITMAN MOSELIJAH LUNDUKA on The history of Ngoni Maseko in Malawi
Lisa Frank on Home
azw3 on Home
Define Regtech on Home
Tobias Kunkumbira on Malawi to roll out Typhoid vaccine
arena plus nba standings 2022 to 2023 ph on Home
David on Home
마산출장 on Home
Cristina Thomas on Home
Alicia Alvarado on Home
The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?