Aug 16 2010 |
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Heavy fines for businesses that inflate prices
Monday, Aug 16, 2010 Abu Dhabi: Businesses that inflate prices for essential food items for the sake of profiteering could be subject to heavy fines in the near future, Dr Hashim Al Nuaimi, Director of the Consumer Protection Department at the Ministry of Economy, said here Sunday.Al Nuaimi was speaking to reporters shortly after an inspection tour of the Abu Dhabi Cooperative at Abu Dhabi Mall. He said a decision on this matter would be taken by the Ministry of Economy but did not give any indication of the time frame involved.
Normal prices
Al Nuaimi said food items in the capital were presently available in abundance and at normal prices.
Al Nuaimi said at present essential food items in Abu Dhabi are available in plenty and at normal prices.
Essential food items include cereals, edible oils, meat, milk powder, poultry, fruits and vegetables.A kilo of Indian mutton yesterday at the Abu Dhabi Cooperative was selling for Dh25.90. A 5kg sack of Pakistani basmati rice which includes a 2kg extra bag was priced at Dh26, while a 3 litre jar of Canola oil sold for Dh24.20.
The average rise in consumer prices in Abu Dhabi in July was 2.75 per cent year-over-year, the Statistics Centre, Abu Dhabi (SCAD) said in a report released yesterday. Inflation over the first seven months this year stood at 2.54 per cent, the centre added.
By Himendra Mohan Kumar Staff Reporter
© Gulf News 2010. All rights reserved.
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