Group items tagged

The National Broadcasting and Telecommunications Commission expects to include a temporary 3G price benchmark for voice and date service by mid-December of 2012. The secretary general stated that this price ceiling will apply to 3G operators running wireless broadband service on the 2.1-gigahertz spectrum plus TOT Plc and CAT Telecom. This regulation will slash the pricing of 3G service by at least 15% from the current price which will largely benefit the consumers of 3G. However, the suppliers and telecommunications organizations will not be satisfied with this new price ceiling as they will be losing profits due to lower prices. As a result, less 3G will be supplied.  

Liam Henderson, the Administrator of the Office Price Administration and Civilian Supply, is looking to impose a price ceiling on cotton yarn. This was announced on May 18th. He will impose this price ceiling because the conferences with the industry were not successful in producing results.

This article describes the effect of price ceilings on goods in Asia. Most countries in Asia have set caps to petrol prices and only seldom raised these. Commentators argue that if price of petrol does not rise with the price of the crude oil in the world, consumers in Asia (where the price for petrol is low) will use up so much that the price of petrol will increase too much and harm the economy rather than help it. In China foods have been monitored as well. Price have a ceiling and if this is to be raise the company must seek approval of the government. This is only a temporary answer to the problem of keeping prices low.

The government in the Philippines will impose a price ceiling on essential drug products that are overpriced. This was announced by the Department of Health (DOH). Health Secretary Francisco Duque III said that the President is to sign an order that covers the lowering of prices on six or seven drugs. The firms refused to cut the prices in half, but the DOH recommended for price reduction. Overall, the prices were cut by about 30 to 35 percent.

In Malaysia, 14 items have been put under a price control scheme until November 17th. There are certain pink tags which must be displayed on products to help differentiate between them. There are large fines for traders who do not comply within the rules.