Thai government to take legal action against profiteering

BANGKOK, March 19 (TNA) - The Thai government, through the Ministry of Commerce, vows to take legal action against profiteering after its new wage hike by 5-22 per cent takes effect as of April 1, 2018. Commerce Minister Sontirat Sontijirawong told journalists of the policy, saying that he has ordered his ministry's Department of Internal Trade to closely monitor the situation, including the response to the new wage hike by producers, retailers and sellers of goods and services in the country, in order to take care of consumers nationwide. The minister noted that based on his ministry's initial study, the new wage increase has not yet affected production and operational costs of manufacturers in the country. Meanwhile, Department of Internal Trade Director-General Boonyarit Kalayanamit told reporters that his department has first invited manufacturers and retailers of school uniforms, footwear and stationery for a meeting to seek their cooperation on launching the "Back to School" campaign, in which they are asked to join by offering the prices of the products, needed by students, to be cheaper than the market prices in order to ease the burden of parents on the costs of living. Besides, impacts from the upcoming wage hike on the production and operational costs of the the manufacturers and retailers in the future have been discussed. According to the senior official, he has instructed his ministry's hotline 1569 teams nationwide to conduct surveys and closely monitor the prices of consumer goods and services at local food shops and restaurants, as well as transport terminals and tourist destinations to prevent profiteering, with those found violating the law to be faced legal action strictly, namely both fines and jail terms. (TNA)