SOFT DRINK PRICES
********
MONDAY, APRIL 1, 1974
SEVERAL NEWSPAPERS HAVE GIVEN THE MISLEADING IMPRESSION
THAT THE DIRECTOR OF COMMERCE AND INDUSTRY, MR. DAVID JORDAN,
HAS APPROVED AN INCREASE IN THE PRICE OF SOFT DRINKS
THE GOVERNMENT DOES NOT, IN FACT, EXERCISE ANY CONTROL OVER
SOFT DRINK PRICES, AND THE EXTENT OF ANY INCREASE WHICH OCCURS IS
AND
A MATTER FOR THE TRADE TO DECIDE.
THE GOVERNMENT ABOLISHED THE DUTY ON SOFT DRINKS ON APRIL 1
LAST YEAR AND AN UNDERTAKING WAS GIVEN AT THAT TIME BY THE
BEVERAGE MANUFACTURERS' ASSOCIATION OF HONG KONG THAT THEY WOULD
KEEP THEIR PRICES UNCHANGED AT LEAST UNTIL APRIL 1, 1974. THE
ASSOCIATION ALSO GAVE AN ASSURANCE THAT EVEN AFTER APRIL, 1974,
[
THEY WOULD NOT INCREASE THEIR PRICES FOR AT LEAST ANOTHER YEAR
UNLESS THEY ENCOUNTERED EXCEPTIONAL INCREASES IN COSTS.
BECAUSE THE ASSOCIATION HAS BEEN ABLE TO SATISFY THE DIRECTOR
OF COMMERCE AND INDUSTRY THAT ITS COSTS HAVE INCREASED SUBSTANTIALLY
HE HAS AGREED THAT THE UNDERTAKING TO KEEP PRICES UNCHANGED SHOULD
NO LONGER APPLY.
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