Price control Decree 1970

The Price control decreeA decree is an official order given by a government or by a person with power. For example, the president can issue a decree making a particular day a national holiday.... More was introduced by the military government in 1970 to regulate goods and services. It made the following provisions;

i. Pegging of selling price of some selected goods.

ii. Goods to be sold at government approved prices.

iii. Imposition of price control on some products.

iv. To stabilize the general price level.

v. To protect customers from paying high prices.

 vi. To prevent hoarding of goods.