14 Apr '11, 12am

We were set up to monitor, not control, prices, says the newly-created Retail Price Watch Group.

WE THANK Mr James Wong for his feedback ('Tackle big business, not hawkers, about price hikes'; Sunday). The Retail Price Watch Group (RPWG) has been set up to keep a close watch on any excessive price increases of daily necessities and anti-competitive behaviour from businesses in Singapore. The watch group's objective is not to control prices. Keeping prices artificially low is not sustainable and will create other problems such as hoarding, shortages and black markets. It is more effective to ensure that market forces work to the advantage of consumers. Therefore, the watch group encourages competition and raises consumers' awareness of cheaper alternatives. It also works with grassroots leaders to ensure that information on the availability of low-price alternatives reaches the public. This includes the 'I support Retail Price Watch Group' sticker, which helps the publ...

Full article: http://www.straitstimes.com/STForum/Story/STIStory_656482...

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