KMC ropes in PwC to stabilise prices

The Kolkata Municipal Corporation (KMC) has roped in global consulting firm PricewaterhouseCoopers (PwC) to recommend, based on its analysis, the ideal prices of essential commodities.

"To stabilise and bring uniformity in prices of essential commodities, we will now be seeking the services of PwC which based on its market analysis, will recommend the ideal prices," Tarak Singh, member, mayor-in-council (market) of KMC, said.

Singh said the prices would be reviewed on a periodic basis depending on demand, supply and other factors. The traders would have to stick to the government recommended prices.

He also said the latest move would help KMC's efforts to regulate prices which it had been trying to do by setting up mobile fair-priced shops selling chicken, fish, fruits and vegetables.

Singh said: "Whenever we set up fair price shops, the rates have gone down, but these would again spiral when we shut shop. But now, we hope we will be able to control the rising prices in the long run," said Singh.

He, however, did not say whether traders would be penalised for not following the recommended prices.

"We will be preparing a periodical report of various markets and sending it to the chief minister (Mamata Banerjee), who will decide what steps should be taken against errant traders," added Singh.

The KMC has also decided to display the wholesale rates of essentials like vegetables on LED screens at its markets. "This will sensitise the buyers about the rates. So they will know whether the prices they are being asked to shell out is too high," he said.