Kuwait: Shopowners sign pledge not to hike food rates

Published 2021년 5월 6일

Tridge summary

The Ministry of Commerce and Industry in Kuwait has announced an annual plan to monitor prices of 204 commodities, including 130 basic commodities and 94 high-demand items. The ministry will take necessary action if any prices are artificially increased. Store owners are not allowed to exploit seasons to raise prices and are required to sign pledges not to do so. The ministry also ensures the stability of building material prices in new residential areas. The ministry is also working to track the prices of imported goods in the country of origin and to ensure the availability of subsidized goods in the markets.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

‘Review decision on ‘movement’ of people’ KUWAIT CITY, May 6: Director of the Technical Authority for Supervising Goods and Determining Their Prices in the Commercial Control and Consumer Protection Sector at the Ministry of Commerce and Industry Faisal Al-Ansari said the administration has an annual plan to follow up and monitor prices, indicating that in the event of any artificially raised prices, the administration writes to the concerned departments in the commercial supervision and consumer protection sector to take the necessary action, reports Al-Anba daily. Al-Ansari told the Al-Anba daily the administration monitors the prices of 130 basic commodities and 94 commodities that are currently in high demand and focuses on central markets, cooperative societies, meat and dates sales, mills, roasters and other activities that are currently in high demand, warning store owners not to exploit the seasons to raise prices. He noted store owners were made to sign pledges not ...

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.