Entrepreneurs asked to pin consumer goods prices

BANGKOK, 14 April 2010 (NNT) – Commerce Minister Pornthiva Nakasai has sought cooperation from entrepreneurs once again to peg consumer goods prices for another two to three months due to the current economic and political situation.

Ms Pornthiva on Tuesday asked entrepreneurs to pin their prices elaborating that it is not a suitable time to increase the prices of consumer products because the economy has not fully recovered yet.

The ongoing political demonstration of the United Front of Democracy Against Dictatorship, Ms Pornthiva admitted, was also a major factor as it has limited spending.

The minister later disclosed that most entrepreneurs have agreed to follow the request with those suffering from higher costs of production given the option of contacting the Department of Internal Trade (DIT).

Ms Pornthiva has assigned the DIT to take care of and monitor product prices during Songkran to prevent frivolous hikes.

The Ministry of Commerce has been asking entrepreneurs to shoulder the economic situation for some time now with its latest request made only last month.