Move To Reduce Price Of Electrical Goods
Press Association)
(Per
WELLINGTON, Feb. 22. The Price Tribunal was asked coday to apply to wholesalers and retailers of eleetrical goods, as well as industrial use-rs, a "cost plusi approved percentages" scheme estimated to effect reductions in seli-ng prib'es to the public ranging from 7i to 9 per cent. The director of Price Con-trOl, Mr. H. L. Wi'se, in making the- applicaGion, said that in the case of goods sold to retailers, the reduction of five per. cent which was sought on Gh'e wholesale price would mean a 7-2* to 9 per cent saving to the public. Mr. Wise said the division considered, as the result of & survev it 'had m'a'de over a representative sample oi firms at all levels of distribution, that the profits taken in uhe trade-, especially by large importing wholesalers, were so considerable, afid' were likely to contintie so, that a schedtile of markups reduCing the margins was aeC6ss'ary. Mr. C. J. Lenihan, appearing for the New Zealand Eleetrical Federation, asked for an ad'journment of two months. "A two months' adjournment would be ridictiloUs afid there must be no delaying," said Mr. Justice liunter, in adjourning the hearing until IVIarch 2,
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Bibliographic details
Chronicle (Levin), 22 February 1949, Page 5
Word Count
202Move To Reduce Price Of Electrical Goods Chronicle (Levin), 22 February 1949, Page 5
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