The proposed Price of Goods Bill 2026, currently under legislative review, is designed to modernize regulatory frameworks rather than impose new taxation measures, government officials have emphasized. The bill, which has sparked public debate, seeks to streamline pricing mechanisms, enhance transparency, and ensure fair market practices. Officials clarified that the primary objective is to address outdated regulations that hinder economic efficiency, rather than burden consumers with additional taxes. The modernization effort includes the integration of digital tools for price monitoring and the establishment of a more robust oversight system. Critics, however, have expressed concerns about potential indirect cost increases for businesses, which could trickle down to consumers. Proponents argue that the bill will foster a more competitive and equitable marketplace, benefiting both businesses and consumers in the long term. The government has pledged to engage stakeholders in ongoing consultations to address these concerns and refine the bill before its anticipated implementation in 2026.
Price of Goods Bill 2026 Aims at Modernization, Not Taxation, Officials Say
