In response to concerns over unilateral price increases by some economic operators following the recent adjustment of fuel prices, Cameroon's Minister of Trade, Luc Magloire Mbarga Atangana, has assured that the government is taking action. The minister stated that the government's policy on prices is governed by the law N° 2015/018 of December 21, 2015, regulating commercial activities in Cameroon. The law stipulates that prices of goods and services are freely determined by the play of healthy and fair competition in the market.
However, the minister noted that there are exceptions to this general rule. For certain products and services, particularly those considered sensitive or of prime necessity, the government has put in place a prior homologation procedure for price fixing. This procedure is governed by a regulatory framework. Additionally, the minister has the power to make it mandatory for certain goods and services to deposit price schedules beforehand. The minister cited examples of products subject to prior deposit of price schedules, including food items and construction materials.
The minister also listed products and services subject to prior homologation, which include essential goods such as milk, rice, fish, and cooking oil. He emphasized that transport services are also regulated and that operators in this sector cannot unilaterally increase prices. The minister's statement comes in the wake of reports that some transporters and traders have already increased their tariffs following the adjustment of fuel prices.
According to the minister, the recent adjustment of fuel prices was a moderate one, especially when compared to the current international market prices. He noted that the new price of super in Cameroon is at least 60 FCFA/litre lower than the world average. The minister urged all stakeholders to respect the laws and regulations governing commercial activities in Cameroon.
To enforce these regulations, the minister stated that the National Brigade of Controls and Repression of Frauds, along with its territorial branches, has been deployed to monitor markets and services. The brigade has already begun inspecting agencies and businesses, particularly in the transport sector, to ensure compliance with the regulations.
The minister's efforts aim to protect consumers from arbitrary price increases and ensure a level playing field for businesses. He emphasized that the government will not tolerate any attempts to exploit the current situation for undue gains. The government's actions are expected to help maintain stability in the market and prevent further price hikes.
The situation remains under close monitoring, with the government urging all stakeholders to cooperate and respect the laws and regulations. The minister's statement has been seen as a reassurance to consumers and businesses alike that the government is committed to maintaining order in the market.
Key points
- The Cameroonian government has deployed a brigade to monitor markets and services to prevent arbitrary price increases following the adjustment of fuel prices.
- The government has put in place regulations to control price increases, including prior homologation and deposit of price schedules for certain products and services.
- The minister has urged all stakeholders to respect the laws and regulations governing commercial activities in Cameroon to maintain stability in the market.
