Share

Vavi: Regulate basic commodities

Johannesburg - Prices of basic commodities should be regulated to benefit poor consumers, Cosatu general secretary Zwelinzima Vavi said on Thursday.

"Competition alone cannot reduce prices in a manner that benefits the majority of our people. Consumers do not always have adequate information to make decisions in relation to where to buy and not to buy," he said in a speech prepared for delivery at the Competition Commission's 15th anniversary in Johannesburg.

"Even in instances where they have information of better prices there are transport costs involved . This is why a consideration should be made to regulate prices of basic commodities."

Vavi said the South African economy was "highly concentrated" which made collusion by companies easy.

"This is why Cosatu has been consistently calling for the diversification of the economy to allow more local suppliers to emerge, which would benefit consumers through lower prices and create more jobs.

"The state should also get more involved as producer of goods and services to help bring prices down."
Vavi also congratulated the commission on its anniversary.

"In these 15 years it has done a sterling work in addressing the problems of collusion, price fixing, abuse of dominance and market allocation."
 
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.92
+0.1%
Rand - Pound
24.02
+0.4%
Rand - Euro
20.53
+0.3%
Rand - Aus dollar
12.33
+0.7%
Rand - Yen
0.13
+1.1%
Platinum
897.05
-0.6%
Palladium
997.25
-0.9%
Gold
2,154.19
-0.3%
Silver
24.89
-0.6%
Brent Crude
86.89
+1.8%
Top 40
65,784
-0.7%
All Share
72,007
-0.6%
Resource 10
52,906
-0.8%
Industrial 25
99,553
-0.9%
Financial 15
16,591
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders