Following the reduction of certain food items in the 2023/2024 National Budget, Deputy Prime Minister and Minister for Finance Professor Biman Prasad says they want to ensure that the Fijian Competition and Consumer Commission gets on its feet very quickly to look at the new measures in the budget so that the measures that are intended to support consumers take effect.
This comes as prices of food and other goods have sky rocketed in the past few months and the FCCC has been questioned on what it has been doing.
In his budget announcement, Professor Prasad had said that the government will reduce fiscal duty from 32 percent to 15 percent on canned mackerel (except canned tuna), corned mutton, corned beef and beef products, canned tomatoes, prawns and duck meat.
Fiscal duty on sheep/lamb meats will be reduced to zero.
Beef meat the duty is being reduced from 32 percent to 15 percent.
Government will also reduce import excise on chicken portions such as wings, drumstick, legs, feet, thighs, etc from 15 percent to 0 percent.
While responding to questions on what is being done to ensure that the reduction in prices will be passed down to consumers, Professor Prasad says they will be monitoring that very carefully.
