I refer to the comment in the Odds and Ends section (TMID, 7 August).

The comment referred to an incorrect dual display of prices in a restaurant. A bill that read Lm24.55 was inaccurately displayed as “costing” e61.38.

For translating the counter values in dual display, the central parity rate (1 euro = Lm0.4293) should be applied. Dual displays should be as such as to enable a consumer to read and understand prices and other monetary amounts easily and correctly and to be able to compare them to the national currency.

Henceforth, by using the central parity rate of Lm0.4293, the exact equivalent of Lm24.55 should read e57.19.

This particular case is not in accordance with the guidelines published by the National Euro Changeover Committee on the optional dual display of prices. The guidelines specify that while the display of monetary values in euro should be calculated on the basis of the central parity rate, retail outlets that opt to accept payment in euro are to inform the customer of any exchange charges applicable for payment in euro. In the coming weeks, the guidelines on the dual display of prices and other monetary amounts will be transposed into legislation and would thereby be enforceable.

In order to manage efficiently and smoothly the changeover to the euro and to ensure a consistent application of the display of prices in Lm and euro, as from 1 January, only those organisations that will subscribed to the Fair-pricing Agreements in Retailing (FAIR) initiative will be allowed to carry out voluntary dual display of prices. Details of this initiative can be downloaded from www.euro.gov.mt or by calling Linja ewro 154.

Melvyn Mangion

Manager, Public and Media Relations

National Euro Changeover Committee