(Bandar Seri Begawan, 10th) The Department of Economic Planning and Statistics (JPES) under the Ministry of Finance and Economy has announced that during Ramadan until the week of Hari Raya, a seasonal maximum price ceiling (PHMB) will be imposed on seven specific foods.
This annual initiative is conducted by JPES in cooperation with the Department of Agriculture and Agrifood under the Ministry of Primary Resources and Tourism, aiming to ensure consumers can conveniently purchase specific foods during the festive period.
In addition to the ongoing price control of cooking oil, formula milk powder, rice, and sugar, the following food categories will also be subject to seasonal price control: whole chicken, eggs, butter, margarine, ghee, flour, condensed milk, liquid condensed milk, and cream.
The full price ceiling list can be found on the JPES website at “www.deps.mofe.gov.bn/cad”.
JPES emphasizes that the set price ceilings are maximum prices only, not suggested retail prices. In other words, businesses are encouraged to offer lower and more competitive prices, but must not exceed the set ceilings. This measure ensures reasonable product pricing while also upholding a fair and vibrant market environment.
JPES encourages consumers to compare prices, make choices, and consider alternatives in order to make informed purchasing decisions and achieve the best value for money.
Any business selling above the maximum price ceiling will be penalized according to the Price Control Act (Chapter 142), including a maximum fine of $1,000, and repeat offenders can face a fine of up to $20,000 or five years’ imprisonment.
Consumers can report violations to JPES by calling Talian Darussalam 123 or emailing aduanpengguna@jpes.gov.bn. Please provide complete information such as payment receipts and photographic evidence when lodging reports.
This annual initiative is conducted by JPES in cooperation with the Department of Agriculture and Agrifood under the Ministry of Primary Resources and Tourism, aiming to ensure consumers can conveniently purchase specific foods during the festive period.
The full price ceiling list can be found on the JPES website at “www.deps.mofe.gov.bn/cad”.
JPES emphasizes that the set price ceilings are maximum prices only, not suggested retail prices. In other words, businesses are encouraged to offer lower and more competitive prices, but must not exceed the set ceilings. This measure ensures reasonable product pricing while also upholding a fair and vibrant market environment.
JPES encourages consumers to compare prices, make choices, and consider alternatives in order to make informed purchasing decisions and achieve the best value for money.
Any business selling above the maximum price ceiling will be penalized according to the Price Control Act (Chapter 142), including a maximum fine of $1,000, and repeat offenders can face a fine of up to $20,000 or five years’ imprisonment.
Consumers can report violations to JPES by calling Talian Darussalam 123 or emailing aduanpengguna@jpes.gov.bn. Please provide complete information such as payment receipts and photographic evidence when lodging reports.