Archive for category: News Room (Page 33)

FANONGONOGO TOTONGI TEKISI FAKATAIMI

Categories: Press Releases

‘I hono ngaue’aki ‘a e mafai kuo foaki ‘e he Kupu 5 ‘o e Lao ki hono Pule’I ‘o e Totongi Koloa mo e Totongi Ngaue, kuo fokotu’u ai ‘e he Komiti Pule Fe’unga ‘a e totongi tekisi fo’ou fakataimi ke hiki ki ai ‘a e totongi tekisi. Ko e totongi fakataimi ‘eni ka e hoko atu ‘a e ngaue ki hono fakalelei’I fakalukufua e founga moe totongi totonu ‘o kau ki ai mo e tukunga fakahoko ngaue ki he ngaahi tekisi.

Ko e totongi tekisi fo’ou ko ‘eni ‘e kamata ngaue’aki ia mei he ‘aho Monite 18 ‘Epeleli, 2011.

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‘Oku fakatangi atu ‘a e Potungaue ki he tokoni ‘a e kakai ‘oku nau ngaue’aki ‘a e ngaahi tekisi,
ke mou fakapapau’I ‘oku ngaue’aki ‘a e ngaahi totongi ni, ‘aki hono lipooti mai ha totongi hala,
kau ki ai ‘a e fika mo e hingoa ‘o e faka’uli, ki he Potungaue Ngaue ‘a e Kakai, Fefakatau’aki mo
e Ngaahi Ngaue’anga pe ki he fika telefoni 23688, pe ko ho’o a’u tonu mai pe ki homau ‘ofisi ‘i
he tuliki ‘o e Hala Salote mo e Hala Tupoulahi, ‘i Kolofo’ou.
Potungaue ‘a e Kakai, Fefakatau’aki mo e Ngaahi Ngaue’anga
‘Aho 15 Tisema 2010.

New LPG Prices for Tongatapu and Vava`u Effective from Monday 18th April 2011

Categories: Press Releases

The Competent Authority Committee has approved the new LPG prices for April 2011 to be effective as from Monday 18th April 2011 and therefore wish to notify the public accordingly.

There is a significant increase in LPG Price for Tongatapu and Vava`u compared to the price last approved by the Competent Authority in September 2010. The new wholesale price for LPG for Tongatapu is T$3,971/tonne and the retail price is $4.41/kilogram. The wholesale price have increased by $237/tonne and the retail price have increased by $0.24 seniti per kilogram.

LPG prices for April 2011 are mainly determined by the movement of Saudi-Contract prices during November-December 2010 as others has not changed. The increase in the Saudi contract has been marginally offset by a slightly stronger exchange rate. Tonga Pa’anga to US dollar has improved by 4% average of the last quarter.

The Ministry is also conducting the annual review of the LPG pricing template involving the main supplier of LPG products to Tonga and Homegas Limited. The review is expected to increase the level of scrutiny of the costs that feed into prices, and the long term trend of LPG Gas, and adjust regulatory arrangements to drive efficiency in its regulation by the Authority.

Ministry of Labour, Commerce and Industries
15 April 2011

New Petroleum Prices for Effective from Wednesday 16th March 2011

Categories: Press Releases

The Ministry of Labour, Commerce & Industries has placed to the Competent Authority the new petroleum prices to be effective from Wednesday 16th March 2011 and therefore wish to notify the public accordingly to be fully aware of the implications and the reasons why. Retail price for all products are proposed to increase significantly for the next month from Wednesday 16th March 2011. The retail price for March-April 2011 for kerosene leads the increase by 15 seniti per litre (7.2%), followed by Diesel at 14 seniti per litre (5.1%) and Petrol have increased by 8 seniti per litre (2.9%). It is important for the public to understand the upcoming increase in petroleum prices, the reasons behind the increase and also Government’s interventions to mitigate its implication to the economy and the daily livelihood of the people of the Kingdom.

The rise in global petroleum prices influenced by the political unrest in certain producing countries means Tonga’s prices will increase for the sixth month in a row and using October 2010 as the base month, this increase will be the strongest at 16 percent. Petroleum prices are mainly determined by the movement of FOB prices in the Singapore market based on February 2011 average prices of the daily published Means of Platts Singapore (MOPS) benchmark prices. The significant increase in March-April 2011 price is attributed to the following reasons:

· Political unrest in supplying countries including Libya as a significant oil exporter, pushed
prices up by around US$10/bbl to US$ 15/bbl.
· In consequence, increase in crude prices rose by about US$13-US$14/bbl during February 2011;
· Increase petroleum demand especially from Asian developed countries like China continuing to grow (estimated to increase by 12 percent from 2009) has resulted in an increasing fuel prices driving the crude price higher
· Freight market has weakened a little but offset by the high cost of products in the market
· The value of Tongan Pa`anga against US dollar was relatively constant, therefore having no impact on the price change

At the moment, the Ministry of Labour, Commerce and Industries is currently undertaking the the annual review of the petroleum pricing template involving the two supplying companies to Tonga, TOTAL and Pacific Energy and the Retailers in Tonga to minimizes errors in petroleum price calculation passed to consumers of the Kingdom. The outcome of this review is expected to be translated to the new price template for the calculating the retail prices by April 2011 to be effective from May 2011. Equally important, Government’s established Tonga Energy Roadmap (TERM) implementation also schedules interventions to assist Government increase the level of scrutiny of the costs that feed into prices, and affect the long term trend of petroleum prices & supply efficiencies, adjust pricing templates and where necessary, adjust regulatory arrangements to drive efficiency in the regulation of petroleum prices. Other TERM commitments also rolls out activities to be implement to improve energy efficient options for the economy and the livelihood of the people of the Kingdom.

Ministry of Labour, Commerce and Industries
11 March 2011

Consumer Protection Act (2000) and Regulations (2006) in Place to Safeguard Consumers

Categories: News Items

In response to the increasing trend of alleged breaching of the products safety standards that apply to all goods imported, manufactured and traded in the country, the Ministry wish to notify the public of the existence of the Consumer Protection Act (2000) and the Consumer Protection Regulation (2006) to safeguard consumers from these breaches.

More importantly, the Ministry wish to encourage the public to recognize the Consumer Protection Act (2000) and Regulations (2006) is in place to safeguard consumers and request public cooperation and assistance to help the Ministry effectively apply the stipulations of the Act and Regulations in order to restrict the trading of products which do not comply with the required safety standards. Therefore wish to draw attention of the public and consumers to the due process in place under the Regulations to consider consumer’s complaints through completed Consumer Complaint Forms, duly assessments, formed decisions and subsequent notifications under stipulated provisions to address these complaints.

In more detail, the product safety standards requires all products supplied, distributed or traded for consumer consumption in Tonga to be safe for the intended use, offer satisfactory level of utility, designed or manufactured in accordance with international standards. In this connection, the following goods should not be supplied, distributed or traded for consumer consumption including defective goods, goods that have exceeded their: “use by dates”, “best before dates”, or “ expiry dates. ” They also include all ‘counterfeit goods’ i.e. goods with labelling which do not describe, present or labelled in a false manner, misleading, or deceptive regarding its character. The product labelling must also declare the name and address of the manufacturer, country of origin, product use, content, maintenance, storage and disposal where appropriate, information relating to possible misuse of the product, and advise of any potential harms resulting from use of the product. Also important for the product labelling of goods should be written in the English or Tongan language, and shall be clear, legible and displayed in a visible position on the product.

 The public and all consumers in Tonga are therefore urged to assist the Ministry in combating the increasing trend of products being traded in breach of the Consumer Regulations (2006) by registering a complaint to the nearest office of the Ministry of Labour, Commerce and Industries or for further information. The Ministry is determined and committed to enforce these standards in order to safeguard the health and safety of the public.

 Ministry of Labour, Commerce and Industries
25 January 2011

Tonga New Petroleum Prices for January-February 2011

Categories: News Items

The Ministry of Labour, Commerce & Industries has approved the new petroleum prices for January- February 2011 which are to be effective from Monday 17th January 2011

Oil prices for January-February 2011 are mainly determined by the movement of FOB prices in the Singapore market based on December 2010 average prices of the daily published Means of Platts Singapore (MOPS) benchmark prices. In accordance with these FOB prices, domestic oil prices in Tonga are adjusted every mid-month based on the previous month’s market price data so as to minimize any possibility of price lags. For the month of January – February 2011, the Ministry records a significant increase in the petroleum price as compared to the price approved by the Competent Authority for December 2010-January 2011.

Retail prices for all products for January-February 2011 has significantly increased compared to December 2010-January 2011 prices. The retail price for January-February 2011 for Petrol leads the increase by 15.56 seniti/litre (6.2%), followed by Diesel by 11.40 seniti/litre (4.5%) and kerosene have increased by 10.71seniti/litre (5.5%).

The significant increase in January-February prices above is attributed to the following reasons:

  • Crude prices continued to increase breaking decisively above US$90/bbl during December. Product prices in the Singapore market are all now above US$100/bbl and averaged at or above this level during December.
  • The fundamental increase in the petroleum price is demand driving the market. Increase petroleum demand especially from developed countries fell in 2008/2009 but has now stabilized and begun to recover during 2010. Demand for petroleum usage in China for November 2010 was recorded to be nearly 1.9mb/d above 2009 levels. The cold weather in much of the northern hemisphere has also boosted demand particularly for heating fuel (similar to diesel) and kerosene. As with the last few months, product prices have increased even more than crude prices which is an indication that the rally is demand led (crude prices rising in response to higher demand for products)
  • On the supply side, OPEC continues to restrain supplies and again slow to increase petroleum supply. Increase in demand compare to restricted supply has pushed petroleum prices further up.
  • Freight rate and exchange rate remains steady. Therefore the full effect of the increase in the commodity price (Singapore MOPS prices) was seen in the increase in Tonga’s wholesale price (compare to the change last month where the Tonga Pa’anga had strengthened against the US dollar so the wholesale price increase was not as much as would have been expected from the rise in the underlying commodity price.

Issued by the MLCI, Monday 17th January 2011