PRICE INCREASES

Manawatu Standard, Volume LIX, Issue 160, 8 June 1939, Page 10

PRICE INCREASES

POSITION UNDER TRIBUNAL. Per Press Atoncintiou. AVELLINGTON, June 8. Some commercial firms are under the impression that, since, the setting up of the Price Investigation Tribunal, price increases may not be made un„il the tribunal’s approval is received: but from inquiries’ made in official circles it was ascertained that this is not so. The only requirement is that, before the price is increased, the firm concerned must notify the tribunal of the proposed increase and the reasons for it, but there is no need to wait, for the tribunal’s approval before the increase is actually made. It was pointed nut that firms making price increases in such circumstances had to stand the risk of whether the new price would he allowed 1o stand or whether the tribunal would reouire an alteration. The period of seven days’ grace before the regulations relating to flic setting up of the Tribunal become operative does not expire till to-mor-row. but already a number of notifications of increases and requests for approval of higher prices have been received, and it is expected the bulk will not. begin to reach the tribunal till next week. The principal object of the regulations, it is stated, was to provide the tribunal with information relative fo the price increases so it, could consider whether the increases in individual cases were justified or not.