Vanuatu Price Control Bureau Presentation Highlights Key Responsibilities and Structure
Vanuatu Price Control Bureau presentation covers the vision, mission, and values of the organization, establishment details, organizational structure, powers of inspectors, traders' responsibilities, and more. It emphasizes creating a dynamic and competitive market in Vanuatu while ensuring fairness, transparency, and integrity in market operations.
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Ministry of Finance & Economic Management Vanuatu Price Control Bureau Presentation Vanuatu Price Control Bureau Presentation SPC Petroleum Workshop on Capacity Building, Suva Fiji 10thSeptember, 2018 Mr. Henrickson R. Malsokle
Presentation Outline The Vanuatu PCB Vision, Mission & Our Values Establishment of Price Control Bureau PCB Organization Structure Powers of Inspectors under the Act Traders responsibility Powers of the Minister Appointment of Price Advisory Committee Offence and penalties Process of Fixing price and monitoring PCB current activities Challenges Opportunities
Vision To create a dynamic and competitive market in the Republic of Vanuatu Mission To enhance the welfare of the people of Vanuatu by fostering a competitive, efficient, fair and informed market. Our Values Professionalism, Responsibility, Commitment, Honesty, Integrity, Respect, Trust and Transparency
Establishment of Vanuatu Price Control Bureau [PCB] Price Control Act has 20 Sections altogether Section 2 of the Price Control Act ..Vanuatu Price Control Bureau was established under an act of Parliament back in 1974 as an independent part of the Ministry responsible for Price Control. Section 3 of the Price Control Act, the Bureau shall comprise a Price Controller and a sufficient number of Price Inspectors
PCB Organizational Structure Price Controller Inspector Inspector Inspector/Admin
Powers of Inspectors: Section 10 of the PC Act - Give powers to Inspectors to: 1. Request information from traders 2. Enter businesses premises 3. Demand information 4. Take possession of any paper/documents The request or demand for information .for purpose to check, examine, verify and determine whether the price charge is a faire price. Furthermore, use those information to check, examine, and verify cost structure of the businesses as per the documents submitted to PCB.
Traders Responsibilities: Section 12, 13 & 14 - Of the Act.. outlined the responsibilities/duties of Traders/Business as follows: To keep books and accounts Not to destruct documents within 2 years. Invoices, books/documents are to be kept and to supply to inspectors.
Powers of the Minister: Section 16 of the Act - Give power to the Minister to regulate the Activities of traders. The Minister may, on the advice of the Price Advisory Committee, make subsidiary legislation to control any operations or activities (including to refusal to sell goods or supply of services) by any trader or a group of traders which would have as its effect the artificial or unjustified increase or reduction of the price paid for goods whether such goods are sold wholesale or retail.
Appointment of the Price Advisory Committee: Section 6 of the Act - The Minister to appoint experiences person for the Price Advisory Committee. The composition of the Committee shall be: (a). Two (2) from the Ministry Chairman and Vice Chairman (b). Three (3) from the Private Sector - representing importers, traders and consumers Previously a Committee was formed back in 1995 by Order #: 2 of 1995
Offence and Penalties Section 17 talks about the offences under the Act Section 18 specifies the penalty of Vt. 200,000, or prison not exceeding 1 year or both. Section 19 and 20 talks about the offences by a company.
Process of Fixing and Monitoring Prices Under Section 9 of PC Act ..Submissions are requested from the Traders with information on costings; example, importers, information on landed costs and local cost to warehouses.. Wholesale and retail prices. This include invoices, exchange rates, wharfage fees, payment details, boarder clearance, ..etc.. Price Control Bureau will check the calculations and verify costings. (example, Fuel Price This we have not done) Maximum prices are set and endorsed by the Price Advisory Committee (PAC). The maximum prices are approved by the Minister and signs the price list. This list becomes an Order gazetted by the Attorney Generals Office and it becomes a law. The price list is distributed to all traders so that they can display for public to see the published prices The Inspectors inspects and monitors the prices, ensuring prices are maintain
Continue.. In terms of Monitoring Prices Recently, Vanuatu Price Control Bureau had visited the Vanuatu Pacific Energy Office [Fuel Supplier] and obtain their Sample Fuel Price Template, however our challenge is.. We do not understand to read the template .therefore we not able to monitor their fuel price and also not getting regular report when change in their fuel price. In Vanuatu, Fuel price should be monitored in the two main urban Town areas - Vila and Santo as well as in the Province.
Current on-going activities. The Office of the Price Control Bureau re-activated Activities in progress so far include: Structure of Price Control Bureau and job description completed and is yet to be submitted to PSC for approval in order to recruit staff Review current legislation and consider review other related Acts such as the Public Health Act and others . Produces Media release for Public awareness on the current work of the Price Control Bureau. Continue to consult with Stakeholders and other Government Agencies on the work of the Bureau Others .
Challenges Fixing and monitoring prices of goods/items, especially for the Fuel Pricing The Price Control Act is out dated.. Currently Office not effective Opportunities In the past three (3) years, consumers complaint a lot for high price of fuel/transport and several other basic goods items but no initiative taken to address .now this current government taken initiative to re-operationalize PCB and so attend this Fuel pricing workshop training, we see as an opportunity to help us understand fuel pricing, so as to work cooperatively with Fuel suppliers to negotiate a fair fuel price for all.
