The Commission regulates and monitors prices of basic goods and services that matter most to ordinary Papua New Guineans that are declared by the Minister for Treasury under the Prices Regulation Act (PR Act). The Commission also has the added responsibility of conducting special inquiries on the economic productivity of certain industries when directed by the Minister or Parliament under PART VIII of the ICCC Act. The Commission only regulates the prices of certain goods and services declared by the Government through the Minister for Treasury under Section 10 of the PR Act for price regulation purposes. Under Section 32A of the PR Act, the ICCC monitors the prices of these goods and services. In its role of regulating these declared goods and services, the Commission’s powers are very much limited to only the baskets of declared goods and services after having deregulated most of the goods and services allowing the market forces to determine the prices. These declared goods and services can be found under Declared Goods and Services with special mention on the productivity matters that the ICCC does in carrying out special and specific industry reviews subject to direction from the Government through the Minister for Treasury. In choosing the form of price regulation that should apply to each of these declared goods and services, the Commission is required to consider the options that are available and are identified in the PR Act such as the price control under Section 10 of the PR Act and the price monitoring under Section 32A of the PR Act. Price control would require the Commission to have regard to the provisions of Sections 20A, 20B, and 21 of the PR Act. Price monitoring on the other hand under Section 32A of the Act provides a less intrusive method for price regulation. Under the price monitoring approach, the suppliers of declared goods and services set their own prices according to their cost drives, while the Commission monitors these price movements with some independent price comparator. If the price is moving at a rate not consistent with the movement in the price comparator, the commission may recommend to the Minister for Treasury to redeclare the goods and services for direct price control. The Commission is tasked with the responsibility of regulating prices of certain declared goods that are declared by the Minister for Treasury. The Commission commenced its pricing reforms in 2004 for all the declared goods and these declared goods are the results of the pricing reforms and are declared by the Minister for Treasury for the purpose of price regulation. In determining the approach for regulation, the Commission has opted to apply the price monitoring approach in regulating these declared goods. Ramu Sugar Products In its role of regulating prices of certain declared goods and services, the Commission has the responsibility to regulate prices of Ramu sugar products. Nearly all of the sugar products in Papua New Guinea (PNG) are manufactured and distributed by Ramu Agri Industries Limited (RAIL) and more recently other importers who import directly from overseas manufacturers and distribute packaged sugar products. Briefly, the current regulatory arrangements under the Prices Regulation Act (“PR Act”) Chapter 320, allow the Commission to monitor the ex-factory gate prices of Ramu sugar products supplied by RAIL on a monthly basis under the provisions of Section 32A of the PR Act and compares these price movements against the benchmark prices from the New Zealand Statistics and the National Statistics Office retail sugar prices. Rice Products - 1 KG Roots Rice Brand The Commission’s role in regulating the rice industry in PNG is very much centered on the Roots rice products supplied by Trukai Industries Limited (Trukai). As a declared good, Trukai is required to supply its factory gate pricelist of Roots rice to the Commission on a quarterly basis. The Commission collates these price movements and compares their movements to the data sourced from the New Zealand Statistics and the National Statistics Office. Flour Industry Price Monitoring Similar to the roots rice regime, the Commission also regulates and monitors the prices of flour products supplied by both Goodman Fielder Asia Pacific Limited with their brand of Flame flour and the 3-Roses flour supplied by the Niugini Tablebirds under Mainland Holdings Limited. The Commission receives quarterly prices from these two flour suppliers and compares their price movement against the New Zealand Statistics available online for free access. Price Surveillance The price surveillance for the wholesale and retail sectors is undertaken by the Commission on a monthly basis. This is to help the Commission track the price movement of declared goods against non-declared goods. The Commission compares price movement at the factory gate level against the wholesale and retail prices charged to consumers. This applies to Flour, Roots Rice, and Ramu Sugar. The price surveillance is done in Port Moresby, Kokopo, Lae, and Goroka. Declared Services ICCC regulates and monitors only the goods and services that are declared by the Minster for Treasury. These declarations are made under Sections 10 and 32A of the Prices Regulation Act . Currently, the Commission provides regulatory oversight for the following services: The ICCC sets the maximum fares for all licensed PMV routes in the country, both the urban and non-urban PMV routes. It also set the taxi fares, especially in centres where taxi services are provided. Currently, taxi services are only provided in Port Moresby, Lae, Mt. Hagen, Kokopo, and Alotau. The regulatory period for PMV & Taxi is set for five years, and taxi fares are adjusted annually. The main factors used by the ICCC to annually adjust the maximum fares are fuel prices and the Consumer Price Index (CPI) The 1997 Napa Napa Project Agreement between the State and InterOil sets the platform for the downstream Petroleum Industry in the country. The ICCC only administers the section of the Project Agreement that concerns the supply and pricing of petroleum products, particularly Petrol, Diesel, and Kerosene (Jet A1). The ICCC independently verifies the Import Parity Prices (IPPs) supplied by InterOil (now Puma Energy) every month to calculate the Maximum Indicative Retail Prices (IRP) for these petroleum products. The ICCC also monitors the quarterly domestic road and sea freights to determine the area-specific retail prices for the declared refined fuel products. Under the current price regulatory arrangement for Water & Sewerage services, the ICCC uses a price-cap approach by determining the Maximum Average Prices (MAPs) for water and sewerage services supplied by Water PNG Limited. This arrangement provides some flexibility for the water utility to decide its bands and tariffs, but within the parameter that the entity’s volume-weighted average prices for all its tariffs must not exceed the ICCC-approved MAPs. This regulatory arrangement commenced in January 2023 and will be reviewed in January 2027, in light of its expiry in December 2027. In the previous regulatory period (2009-2013), the ICCC was monitoring the stevedoring and handling charges against the quarterly movements in the retail diesel prices for Lae, and the Consumer Price Index (CPI). Under this arrangement, the licensed stevedoring companies operating in the declared Ports within PNG submit to the ICCC quarterly their stevedoring and handling charges. The ICCC would then observe the movements in these charges against certain benchmark prices. If there is some form of divergence between the prices, the ICCC would seek clarifications from these Stevedoring companies and if the ICCC is not satisfied, the ICCC may propose to the Minister for Treasury to declare the service for Direct Price Control. This monitoring arrangement was discontinued during the 2013 Review due to some contentious and related issues that were before the court, however, the Ministerial Declaration made under the Prices Regulation Act was and is still in effect to date. The ICCC is undertaking a pricing review into the Stevedoring and Handling services in 2023 to determine if some form of regulation needs to be applied from 2024 onwards. ICCC sets price margins and monitor fuel prices to ensure that retailers sell within that margin. PRESS STATEMENT: ANNOUNCEMENT OF FUEL PRICES – SEPTEMBER 2026 Sep 7, 2026 | Fuel Prices , Monthly Fuel Price ANNOUNCEMENT OF RETAIL FUEL PRICES – SEPTEMBER 2026 The Independent Consumer and Competition Commission (ICCC) informs all consumers, suppliers, and stakeholders in the petroleum industry that under the recent NEC Decision No. 225/2026, the Government has exempted... PRESS STATEMENT: ANNOUNCEMENT OF FUEL PRICES – AUGUST 2026 Aug 7, 2026 | Fuel Prices , Monthly Fuel Price ANNOUNCEMENT OF RETAIL FUEL PRICES – AUGUST 2026 The Independent Consumer and Competition Commission (ICCC) informs all consumers, suppliers, and stakeholders in the petroleum industry that the Government’s Fuel Relief Assistance will continue into its 5th month as... PRESS STATEMENT: ANNOUNCEMENT OF FUEL PRICES – JULY 2026 Jul 7, 2026 | Fuel Prices , Monthly Fuel Price ANNOUNCEMENT OF RETAIL FUEL PRICES – JULY 2026 The Independent Consumer and Competition Commission (ICCC) informs all consumers, suppliers, and stakeholders in the petroleum industry that the Government’s Fuel Relief Assistance will continue into its third month as... Pricing Reviews & Reports The Commission conducts a public inquiry into various price reforms and referrals by Parliament on significant economic matters. Through the public consultation process, the Commission determines its price path or recommends to the government to take actions on a particular sector to improve efficiency and productivity. All these documents are available publicly. 2015 Flour Industry Pricing Review Final Report | 30th October, 2015 2022 Flour Industry Pricing Review Final Report | 25th November, 2022 2019 Petroleum Industry Pricing Review

Final Report | 20th December, 2019 2010 Petroleum Industry Pricing Review Final Report | 30th October, 2010 2016 Petroleum Industry Pricing Review Final Report |29th February, 2016 2008 Stevedoring handling Services Pricing Review Final Report | 3rd June, 2008 2023 Stevedoring handling Services Pricing Review Draft Report | September, 2023 Final Report - 2023 Stevedoring and Handling Service Pricing Review Final Report | December, 2023 Gazettal Notice_ G959 of 5th December 2023 - Stevedoring and Handling Price Order 2024 Gazettal Notice | December, 2023 2022 Rice Industry Pricing Review Final Report | 3rd November, 2022 2015 Rice Industry Pricing Review Final Report | January, 2016 2018 - 19 Sugar Industry Pricing Review Final Report | 31st January, 2019 2023 Sugar Industry Pricing Review Final Report | 3oth October, 2023 Water and Sewerage 2022 Water & Sewerage Services Pricing Review Final Report | 23rd December, 2022 2015 Water & Sewerage Services Pricing Review Final Report | July, 2015 2019 PMV & Taxi Fare Review Final Report | 30th October, 2020 2025 PMV & Taxi Fare Review Final Report |24th December, 2020 Inquiries & Report 2006 Review of the PNG Air Transport Industry Final Report | 20th September, 2006 2007 Sundry Declared Goods Pricing Review Final Report | 16th August, 2007 2010 PNG Housing and Real Estate Industry Review Final Report | 20th September, 2006 2007 Review of the PNG Coastal Shipping Industry Final Report | 16th February, 2007