Govt traders meet fails to set MRP

KATHMANDU, SEP 11 -

The government could not fix the maximum retail prices (MRPs) of essential commodities as planned on Monday after it found the prices proposed by traders much higher than expected.

The government has asked traders to submit a revised proposal by Thursday.

Two weeks ago, the government had decided to fix MRPs of some essential commodities so that it could use it as the base for market monitoring and prevent artificial price hikes. The Department of Commerce and Supply Management is coordinating with other government entities and traders to set MRPs.

Monday’s meeting between the government and traders chaired by Chief Secretary Lilamani Poudel was unable to implement the MRP provision. “We did not agree on some of the commodities’ prices proposed by traders,” said Narayan Prasad Bidari, director general at the department. “We have requested traders to revise their proposal.” The traders have asked for some more time to decide on the prices after the government asked for a revision. This is the first time that the government is gearing up to fix MRPs of daily consumer goods. The government move follows demand by consumer rights activists to fix MRPs of essentials as prices of sugar, rice, pulses and edible oil have soared unnaturally ahead of the festive season.

Suresh Basnet, President of Nepal Chamber of Commerce, said traders were positive for a reasonable price of commodities. He assured the next meeting, scheduled for Thursday, will reach a conclusion.

The department has proposed maximum and minimum prices for eight food items, including rice, pulses, edible oil, pulses, sugar, salt and beaten rice.

The department has been publishing reference prices of daily commodities for more than six months, but the prices in the retail market are much higher than the reference prices.

Source: The Kathmandu Post