XN000022-1974-03-27 — Page 25

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