Taçoy says market price inspections will continue and expand

North Cyprus Economy and Energy Minister Hasan Taçoy says inspections of market prices will continue and increase, as the ministry works with food retailers on market regulation.

Halkın Sesi reported that Taçoy met members of the board of the Turkish Cypriot Food Retailers Association, known as MAR-DER, to discuss price inspections and other problems affecting the market.

According to the report, Taçoy said price controls were the responsibility of the state and were primarily intended to protect consumers. He also said inspections could help retail businesses by preventing unfair competition and protecting traders who comply with the rules.

Taçoy said the ministry would begin work on the issues discussed with MAR-DER and that the participants shared common views on many matters, the report said.

He described the ministry’s objective as establishing balance in the market, preventing unfair profits and unfair competition, and avoiding harm to any party.