Commerce Ministry to push for more controls of goods prices

[Lite Beer]

Commerce Ministry to push for more controls of goods prices

BANGKOK, 19 October 2014 (NNT) - The Commerce Ministry is pushing ahead with more measures to control goods prices in order to help lower the cost of living of Thai consumers.

According to Commerce Minister Gen. Chatchai Sarikalya, the Ministry has been working with related agencies to push prices of consumer goods down.

Among various measures employed are the Blue Flag project and the “Returning Happiness” ready-to-eat food shop project which sell affordable meals to consumers, Gen. Chatchai said.

He said that, so far, all projects have been well-received while the ministry continues to introduce new measures — some of which are expected to be unveiled before the end of this year.

When asked about Thai exports, Gen. Chatchai said that it is essential for Thailand to maintain existing markets while exploring new ones.

He went on to say that in order to make all Thai product standards internationally recognized, 62 Thai trade representatives from 43 countries have been invited to a brainstorming session to discuss the problems faced by Thai products in various countries. The planned meeting will also be joined by representatives from the private sector, the Commerce Minister said.

-- NNT 2014-10-19

[marcusd]

Well the brain storming session could start with using ingredients and materials that are not riddled with chemicals, grown and packaged in hygienic circumstances although that may never be achieved and pricing things realistically.

As for returning happiness? Who stole it anyway? If they mean MONEY then that should be returned.

Thailand is pricing itself out of every market world wide.

How come I can holiday and buy almost anything in Australia CHEAPER than Thailand and the prices here do not come as a reflection of salaries. BRAIN STORM that one !

[rickirs]

Jan. 24, 2014 - Venezuela decreed another Fair Price Law law that sets limits on company profits at 30%, requires firms to obtain "fair price certificates" to access dollars through the country's currency control mechanism, and establishes prison sentences of up to 14 years for crimes including hoarding, "destabilizing the economy" and food trafficking for those charged with hoarding or over-charging, as part of the country’s efforts to tame inflation.

Critics called further price controls since 2003 evidence of the failure of Venezuela's state-driven economic model.

Thailand seems to be taking the same economic measures as socialist Venezuela. Has the Junta already lost faith in its own economic strategies to hold back inflation after a mere 4+ months after the coup?

[noahvail]

40 years ago, USA President Nixon initiated price controls. The policy failed miserably, as had been predicted based on historical evidence. I wish General Chatchai better luck with his proposals than his counterparts in other countries, for the good of the Thai people.

[Robert24]

@marcusd: I think you exaggerated a bit by saying almost everything is cheaper in Australia than Thailand to be fair. A lot of things are cheaper here in Thailand, ie cars, diesel, food, medical treatment, dentist, hairdresser, domestic flights, hotels, houses/condos, rent etc. Not saying you need to compare prices between the 2 countries but just thought I respond to your comparison.

[Robert24]

I agree with Noahvail and rickirs. Price controls don't work. Competition and free trade will keep prices low.