Price control cops hand out $1million in fines

RETAILERS who have failed to to adhere to price controls on basic food items have been hit by fines totaling over $1 million.

The penalties were imposed by the Consumer Protection Agency Some 5,530 establishments were sanctioned. during 33,479 inspections since the price controls went into effect Sept. 4, 2014.

The amount of the fine is based on the size of the business and whether or not it has previous convictions.

The government is also considering expanding the number of items subject to price controls, currently standing  at 22.

At a meeting with the Ministry of Commerce and Industry, many retailers spoke out against the price controls, claiming they are making it difficult for them to make a profit.