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DOJ seeks review of SRP Policy

Traders should follow the policy on Suggested Retail Price (SRP) in the market. (Screen grabbed from internet)
Traders should follow the policy on Suggested Retail Price (SRP) in the market. (Screen grabbed from internet)

The Department of Justice wants a review on the rules in setting the suggested retail price of basic commodities in the market.

The DOJ’s decision stemmed from the recommendation of its Office for Competition.

According to the OFC, there’s a need to review the SRP as it lacks rules and regulations.

The said office added that though the SRP’s main intention is to fight off illegal traders, this has become dangerous to the public interest.

Based on the recommendation of the OFC, the SRP prohibits healthy competition which prevents the improvement of the quality of service and or commercial goods.

 

 

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