In his letter entitled Price of Medicines (TMID, 30 January), Anthony Busuttil seems to have misunderstood completely the notion of price stability agreements.

In order to clarify and inform your readers, it bears to note that by accepting more than 7,600 products in the price stability agreement, the Euro Observatory and the National Euro Changeover Committee have not approved or consented to the worthiness or otherwise of such prices. It was never the remit of these two entities to establish whether a price is fair or abusive to the consumer. Its role was and remains to ensure a smooth changeover for all businesses and consumers alike.

These agreements were a commitment given by 17 importers, producers and distributors in order to put the consumers’ mind at rest throughout a six-month changeover period. The price stability offered by these agreements is intended solely to allow consumers to focus exclusively on adapting to the new currency, by facilitating the establishment of a scale of reference values in euro, rather than having to deal with fluctuating prices of so many essential items.

In signing these agreements, the 17 companies promised that the prices of their products will not be increased during these six months for whatever reason. Naturally, it comes as good news to all, that following intervention from another authority, some prices have been reduced further.

Melvyn Mangion

Manager, Public & Media Relations

National Euro Changeover Committee