According to reliable sources, the Ministry of Commerce and Industry has instructed the head of the Federation of Cooperative Societies to disseminate a directive to all cooperatives. The directive explicitly prohibits any suppliers from increasing the prices of essential food commodities. The Ministry emphasized the importance of compelling associations to maintain prices at their usual circulating rates and strictly refrain from accepting any hikes imposed by suppliers.
The Ministry has further mandated association officials to promptly report any instances of suppliers elevating their product prices. Officials are required to submit all relevant documents substantiating such cases, enabling trade authorities to initiate necessary legal actions. The Ministry asserted its unwavering commitment to enforcing laws and decisions without leniency towards violators.
Sources highlighted a direct directive from the Minister of Commerce and the Minister of State for Youth Affairs, Muhammad Al-Aiban, urging against any escalation in food commodity prices within associations. The directive emphasizes the necessity of rigorous oversight in implementing the decision to fix selling prices for all food commodities. This initiative is aligned with the Commercial Control Department’s work plan, which involves emergency and inspection teams intensifying efforts to ascertain compliance with directives. The goal is to tighten control over markets and prevent any artificial price increases coinciding with recent financial boosts for retirees.
The sources underscored that the supervisory measures taken encompass both precautionary and punitive actions. The Ministry views this proactive step as essential for controlling potential future increases, especially those exploiting the pretext of high inflation rates.
Simultaneously, Abdul Wahab Al-Fares, the head of the Federation of Cooperative Societies, has convened an urgent meeting for cooperative leaders. The focus of the meeting is to address the surge in prices within societies and explore viable solutions. Al-Fares emphasized the Union’s ongoing efforts to rectify imbalances in food and consumer markets within cooperative societies, with the ultimate aim of easing the burden on citizens.
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