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Minister delivers on promise to have Competition Commission up and running

Jul 24, 2010 News

Minister of Tourism, Industry and Commerce, Manniram Prashad and his staff have delivered on their promise to have a functioning Competition Commission by summer.
Several months ago as the Minister addressed members of a CARICOM delegation in a closed session on Competitiveness in the region, he pledged to have the Guyana Competition Commission up and running. It would appear that in a few short weeks the Minister’s promise may be considered kept.
A member of staff at the National Competitiveness Strategy Unit (NCSU) told this newspaper earlier last week that the NCSU is currently fielding calls for the Commission as they work towards completion of their offices.
According to the staffer, the building that houses the NCSU in the exhibition complex will also be the home of the Commission when the works are completed.
In recent weeks there have been publications of at least one Public Awareness Bulletin by the Commission. A call to the number provided in the bulletin connects a caller to the NCSU where it was indicated that they are serving as the temporary secretariat of the Commission until it is up and running.
The Bulletin is the first in a series; it seeks to educate the public on the Competition and Fair Trading Act of 2006. The Bulletins look at pertinent elements of the act that will be of particular interest to business owners and potential investors. Another area of focus will be the possible punishments that offenders may face for contravention of the articles of the act.
This first bulletin looks at anti-competitive agreements and some of the provisions that they may contain which are considered as unlawful in the Act.
It also examines the scenarios where such agreements may be accepted as a part of trade.
According to the NCSU staffer, the bulletins are only one part of a communications and public awareness strategy on the Competition and Fair Trading Act and the Guyana Competition Commission.
There will also be other bulletins, advertisements, press releases and other promotional means used to educate the public on their rights under the act.
The Competition and Fair Trading Act was designed as a way to ensure that market forces are kept in balance by free and fair trading.
To do so there needs to be regulations that will prevent any one enterprise from abusing a dominant market position.
The Act also seeks to encourage and maintain competition and to promote the welfare and interests of consumers.
Another primary mandate included in the Act is the creation of a Competition Commission which will monitor and police these matters.

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