SLOW INFORMATION

Press, Volume CXIV, Issue 33454, 8 February 1974, Page 1

SLOW INFORMATION

(N.Z Press Association) WELLINGTON, February 7. Many manufacturers have failed to supply the Trade and Industry Department with information vital to the Government’s pricecontrol scheme. The Stabilisation of Prices Regulations ordered that! details from companies with an annual turnover of $50u,000 or more be forwarded to the department by 'December 3. Many have still mot done so.

Until it has the information the department cannot tell which manufacturers have to give advance warning of proposed price increases. The assistant secretary responsible for stabilisation and distribution, Mr G. L. Struthers, said today that the department had issued a reminder through the Manufacturers’ Federation. He added that manufacturers were supplying the information “at a reasonable Irate.” He did not know what, percentage of the companies had failed to supply information because the department did not know how many there were. The information the com-

panies must supply is their name and address, their principal pla-'e of business, and their total turnover in the last trading year completed before November 15, 1975. Once a manufacturer supplies this information he is placed on a list of companies which must give prior notice of price rises and the reasons for them. Increases in overheads and wages are not sufficient rea-| sons. Companies with less than $500,000 annual turnover are expected to follow the same guidelines as larger companies before imposing price increases, but they do not, have to notify the departement.