FNCCI backs 'Price Transparency Week', urges businesses to display mandatory price lists

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has voiced full support for the government’s 'Price Transparency Week' and has urged industrialists and entrepreneurs nationwide to take part in the campaign.

The FNCCI issued a statement on Sunday after the Ministry of Industry, Commerce and Supplies decided to observe 'Price Transparency Week' from May 11 to 17. The federation said the initiative is expected to help standardise prices of goods and services and promote a fair business environment.

In line with a ministry circular, FNCCI called on its member chambers, commodity associations and affiliated businesses — including industrialists, importers, suppliers, wholesalers and retailers — to keep up-to-date price lists of the goods and services they sell and to display those lists clearly and in a mandatory manner for consumers.

The federation asked district and municipal chambers of commerce and industry to verify that price lists are being maintained in local markets and to join awareness programmes to ensure the campaign’s success.

FNCCI encouraged all businesspeople across the country to participate actively in the week-long observance.