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Port Moresby
October 17, 2021
Business News

ICCC To Review Act

TheIndependent Consumer and Competition Commission (ICCC) is now working on reviewingthe ICCC Act.

 

This follows findings of weaknesses in certain areas ofthe act on consumer protection.

ICCC says it will take into consideration consumer interest in terms ofthe high cost of goods and services, imports and pricing regulation amongst ther necessary economic factors.

 

ICCC is a member ofInternational Competition Network, andInternational Consumer Protection and Enforcement network.

 

It is part ofthe global framework that oversees issues affecting consumers and competition in business activities.

 

Commissioner Dr Belly Manoka saidthe review will address weaknesses discovered and discussed atthe United NationsConference on Trade and Development.

 

“What we have learnt is that…generally competition legislation is reviewed every 10 years so that it’s up to date with what is happening. So it’s now time to reviewthe act asthere are some weaknesses in act that we have identiflied,” said Manoka.
 

He added that ICCC currently is working on a draft compliance program to identifythe issues worth addressing.

 

“It is going to go through a public consultation process,the compliance program. We would likethe business community, consumers andthe public sector to be fully aware ofthe requirement of ICCC Act andthe related acts that we administer,” Manoka said.
 

Withthe review ofthe ICCC Act necessary changes are to be expected to impact positively on consumers and competition inthe country.

 

“We sawthe review ofthe ICCC Act of a Paramount importance,” said Dr. Manoka.
 

Dr Manoka also added that one ofthe area that ICCC wants to plug is that traders or businesses who acquire or merge with ther businesses to get clearance or authorization fromthe commission.

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