Minister Questioned: Price Control Commission

Finance Minister Bob Richards said the Price Control Commission has not met since its appointment in April 2016, adding that the “role of the Commission has been overtaken by the establishment of the RA with regard to controlling prices/supply of essential commodities.”

The Minister was replying to Parliamentary Questions from Shadow Finance Minister David Burt in the House of Assembly.

The Parliamentary Question said, “Will the Honourable Minister please advise this Honourable House how many times the Price Control Commission has met since its appointment in April 2016; and if he will make a Statement on their work?”

The Minister’s reply said, “The Price Control Commission has not met since its appointment in April 2016. 

“Honourable Members may be aware that the 2 functions of the Price Control Commission in accordance with the Price Commission Act 1974 are as follows:

• “To control the price of Specified Commodities listed in the second schedule. Currently there are no Commodities listed in the schedule. Electricity was removed in 2009 to the Department Of Energy and now sits with the Regulatory Authority who will be responsible for regulating the cost and supply of Electricity.

• “To conduct inquiries into the price and supply of any commodity and to report on the findings to the Minister.

“The role of the Commission has been overtaken by the establishment of the RA with regard to controlling prices/supply of essential commodities. Also there is no need to have a separate body to inquire into the prices and supply of commodities this can be done by central Government if need be.

“After a review of all Boards and Committees Government considers the role of the Commission redundant and will seek to repeal the empowering legislation.”

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