The Civil Society Network (CSN) has issued a call for price regulations following a noticeable increase in the cost of certain products, despite many facing redundancy or financial unemployment because of the Coronavirus.

Believed to have been caused by panic buying, CSN is proposing three major changes to ensure prices are regulated.

CSN stressed that cost of essential items such as medicine, medicinal masks, sanitizers, toilet paper and essential food items (water, milk, flour, rice, etc.) be reverted to the market price as of 8^th March, 2020. 

It also made mention of utility bills, and proposed they be reduced. Addressing this situation, CSN said: “Once that there is a global slump in gas prices, there is no reason why there shouldn’t be a reduction or at least a hedging measure for water and electricity prices during these months.”

CSN also called for better price monitoring on all essential goods. The network explained that several European countries have already taken this step and that to this, “…there should be a special task force appointed by the Government which can approve price changes.” Prices could then be revised by request from importers or distributes as the situation unfolds.

The organisation also emphasised the importance of safeguarding people’s financial health as a means of taking care of Malta's economy: “There is a pressing need for people to have more cash at hand so that Malta can emerge stronger after the economic crisis that it is facing.”

Do you agree with these proposals?