MRP
Tag : MRP
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What is the Maximum Retail Price (MRP) and Why is it Important?
The Maximum Retail Price (MRP) is the highest price at which a product can be sold, including all taxes and fees, set by the manufacturer. MRP protects consumers by limiting overpricing and ensuring transparency in retail markets. This system promotes fair trade, consistency in pricing, and prevents exploitation, especially in regions with limited competition. In Nepal, MRP is enforced under the Consumer Protection Act, 2018, to safeguard consumers from price exploitation and maintain equity in pricing across different areas. Businesses benefit from consistent pricing, while consumers gain assurance that they are not overcharged.