Price controlsThe Department of Internal Trade in the Ministry of Commerce administers price controls under the Price on Goods and Services Act. Price controls apply to certain goods and services, such as petroleum, diesel, and delivery and repair services.The Trade Competition Board can draft and enforce regulations and declare particular goods or businesses as controlled, subjecting them to price and monopoly controls. These regulations are reviewed at least annually and are subject to change, depending on economic conditions and other factors. The Price of Goods and Services Act identifies business practices that are considered illegal or an infringement of the free market system.
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