$170 dragon fruit. $300 rambutan. How much for the mangoes? I can't quite make it out.


Decree puts riel prices into focus
http://m.phnompenhpost.com/business/dec ... ices-focus

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21 Jul, 2017 Hor Kimsay
The government has issued a decree that requires all businesses to put price tags on their products and services in riel to increase transparency for consumers and boost the use of the local currency.

A prakas by the Ministry of Commerce (MoC) released yesterday builds off of a similar initiative announced in 2013 that fell flat on a lack of enforcement and confusion surrounding the vague penalties for non-compliance.

However, according to the MoC’s updated decree, the government will coordinate with multiple agencies to regularly inspect business operations to make sure that price tags are in place, and are properly displayed in riel.

“It is compulsory for all businesses and service providers that are doing business in Cambodia need to put a price tag on their products and services in Khmer riel,” the announcement said.

“Any business that doesn’t implement the order will be held responsible by law.” The decree, however, failed to provide details on what if any fines could be levied on businesses that do not comply.

Soeng Sophary, spokesperson for the Ministry of Commerce, said yesterday that the decree will be applied on all businesses registered with the government but will exempt small vendors and sellers in local markets. She added that the purpose of the decree was to force businesses to motivate their clients to use the local currency.

“Now, because the price of riel has stabilised, we need to motivate people to use it,” she said. “If people become familiar with seeing price tags in riel, they will use it more.”

Chea Serey, director general of National Bank of Cambodia (NBC), said yesterday that she welcomed the decree as it is in line with the government’s effort to support the national currency.

“The listing of price tags in local currency is an important factor in changing peoples’ mindset when it comes to understanding the notional value of the local currency,” she said.

“Changing the mindset is the most important factor of our strategy, so this regulation will greatly help us achieve our objective.”

According to Serey, most businesses will have to change their menus and labels in order to comply with the regulation. She added that the decree should serve as a symbol of national pride, adding that it does not bar individuals from paying in dollars.

“Customers still have a choice to settle in riel or US dollars,” she said.
Cont..."

The gov must be taking the p on this surely, and it's not funny. I don't know any Khmer that talk in dollars unless they are talking about large sums sometimes, or dealing with tourists. I haven't spoken in dollars buying local shit here for a few years now. I do speak dollars and Riel when buying petrol sometimes, buying from the supermarket, but rarely when talking about bitcoin though. They are the only places because tills and pumps show prices in dollars. I think what they are really saying is that petrol stations, supermarkets and US fast food places should change their already displayed prices from dollars to Riel, so the govs balls look/ feel a bit bigger.

This will achieve exactly the opposite of what is desired.

Pricing stuff costs money, guess who will pay?

Secondly, it leaves no room for bargaining, whereby the very poor sometimes get better deals than most of us.

Yes, I did notice that small vendors are exempt, but they will follow.

It may look like a good thing, but ask yourself this:

You see prices on stuff in every 1st world country.

Why?

+ Riel is the official currency, no self-respecting govt would pass a law stipulating a proxy currency.
++ It could make buying a new sports car interesting:

Ferrari for sale: KR 100000000000000000000000000000000000000000000000000000000000000000000000000