Consumer Affairs Authority set to be reformed under a new Act
As a consequence to ever increasing prices and hoarding of essential commodities and the failure in imposing maximum retail price via gazette notifications, the government is set to overhaul the Consumer Affairs Authority (CAA) soon, high level official sources divulged.
Action will be taken soon to amend the archaic existing Act of 2003 by replacing it with a new Act passed by Parliament to empower the CAA to meet modern demands and challenges on digital and online developments, a senior Finance Ministry official said.
At present the consumers are frustrated as the CAA has failed to protect the consumer, farmer, industrialist, importer and the trader as the Act lacks legal teeth to take stringent action against those who are in the supply chain responsible for unreasonable price hikes, he said.
The CAA has the power to determine the maximum retail price (MRP) of any essential commodity but sellers are used to ignoring this rule.
There was no need of the MRP if it cannot be implemented by CAA. It is essential to empower the consumer authority to impose restrictions, implement regulations and directions, in addition to civil law remedies available in the court system.
Prices of all essential commodities will be determined by cost reflective pricing formula each and every commodity in accordance with new act.
COPE Chairman Ranjith Bandara said that the committee was of the opinion that although the main responsibility of the Authority is to protect consumer rights through empowering consumers, streamlining trade and good promotions, it is not working according to that vision.
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