PRICES, INDUSTRY REGULATION & SPECIAL PROJECTS

The primary role of the PRASP Division is to administer and implement Part III, IV, V and VIII of the ICCC Act 2002 and the Prices Regulation Act (as amended). This involves the licensing and overall regulatory administration of the various government owned utilities that are being declared for the purposes of economic regulation pursuant to the ICCC Act.

The Division is also responsible for the price regulation of certain declared goods and services under the provisions of the Prices Regulation Act. The other primary responsibility of the Division is to undertake industry specific studies as and when requested by the Government from time to time to assess and identify any policy, regulatory and institutional bottlenecks to the efficient operations of such industries with a view to making corrective policy recommendations.

The Prices and Regulatory Division of the Commission has staff strength of 13 and additional staff will be required when the Commission takes on additional responsibilities such as the regulation of Housing, gas etc.

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