Firms should list cost of Procduction

Mumbai: In a unique suggestion, an RBI central board member said on Friday a company should disclose the manufacturing cost of a product along with the maximum retail price so that a consumer gets to know the margins the company is pocketing.

Satish Marathe, appointed by the government to the central board of the RBI in August, said, “it is high time that apart from printing MRP on products, companies should also start giving the (manufacturing) cost of products. Only then, will we really know the margins of profit.”

Addressing an event, he sought to drive the point of excess profits being made by firms, saying a piped gas company recently signed an agreement to supply gas to residential areas at a 16 per cent margin.