Wednesday, March 27, 1974
sharply.
23
Towards the end of February, however, the situation deteriorated
Mr. Jordan continued: "Everyone in the trade was aware that
prices must soon be increased again and many were trying to take advantage
of this situation, while blaming the artificial shortage they created on
the fact that I had reduced the import quota for the first quarter of
the year.
"It was, of course, well known to the trade that I had done this to
reduce our stockpile from the unnecessarily high level it had reached at
the end of 1973."
Mr. Jordan said that a number of measures were taken with the
object of providing an effective damper on speculation and price manipulation.
"In taking these measures I have been less concerned with proving
who is the guilty party than with establishing a system which will ensure
that the malpractices do not recur," he said.
To this end, a Rice Advisory Committee had been established with
representatives of all sectors of the trade and officials from the Commerce
and Industry Department. Mr. Jordan said that he expected the committee
to be able to pinpoint the problems, suggest solutions and secure the support
and understanding of each sector of the trade.
"In order to ensure that the public shall have access to rice
by which I
of specified qualities and weights and at reasonable prices
mean prices that are reasonable in relation to import costs -- we have
extended and re-organised a scheme under which major retail outlets, particularly
those willing to sell packaged rice, can register with the Commerce and
Industry Department to buy rice directly from importers," he said.
The intention