The Commerce Commission is currently working on the enforcement of the Hardware Price Control Order confirms its chief executive officer Bobby Maharaj.
“The Hardware Investigation Report which was completed in the mid of 2010 is with the government,’ he said.
“Currently we are working on the enforcement of the Hardware Price Control Order.”
He added that, the obvious benefit is that price reduction in basic building materials will give people a chance to build better affordable houses.
The process of gathering the information and pricing the hardware began in October, last year and the Commission is in the final stages of the process now.
Mr Maharaj said the commission is still in the process of finalizing the prices.
“Until such time, the exact decreases are not known. However, there will be a decrease in prices in the following categories of hardware
items: Fasteners, Paint, Tools, Electrical, Plumbing, Timber, roofing products, Concrete blocks, Louvre frames, cladding and boards, and
plywood,” he said.
After the enforcement of the Commission’s determination, the market will be closely monitored.