THE Prices and Incomes Board intention to control an additional 24 items would no longer be pursed following a government decision yesterday.
Aiyaz Sayed-Khaiyum, who holds the Trade and Investment portfolio said the government had rejected the need to have control over these 24 items or any other new items.
He announced the Cabinet decision to remove the 146 items under price surveillance which mostly include locally manufactured items.
On November 6, the PIB announced its intention saying it had obtained the approval of the Finance Ministry to control additional items such as toilet paper, bathing soap, washing soap, washing powder, tea, sanitary pads, diapers, baby cream, baby powder and roofing sheet.
"Blanket price control on such items is not an effective means to cushion those low income brackets from inflation.
"Government is of the view that price control in such a manner will create distortions in the market and is anti investment and anti business," Mr Saiyed-Khaiyum said.
