MEC price cap on 50,000 items including dairy products & sugar during Ramadan

 22 May 2017 - 23:28

MEC price cap on 50,000 items including dairy products & sugar during Ramadan

The Peninsula

The Ministry of Economy and Commerce yesterday announced caps on the prices of more than 50,000 food and non-food products throughout the holy month of Ramadan in its latest initiative, in cooperation with shopping malls and large retail outlets.

The price caps are the latest in a series of initiatives launched by the Ministry of Economy and Commerce to mark the holy month under the theme “#Aqal_Min_Al_Wajeb.” The initiative comes within the framework of the Ministry's efforts to maintain balanced and stable prices, and prevent any unjustified increases in the prices of commodities and consumer goods.

The list freezes prices of various food and non-food items, including poultry, eggs and their derivatives, frozen meat and its derivatives, milk (fresh, condensed and powdered).

The list also includes dairy products, tea, coffee products, sugar, Halawa, jam, legumes, cereals, rice and its derivatives, biscuits, potato chips, mineral water, fresh and canned juices, canned food, edible and cooking oil, milk, baby food, baby diapers and sanitary napkins of all kinds, personal hygiene products and household detergents, tin paper, preservatives, tissue paper, and household items of all kinds.

The Ministry urged all shopping malls and retail outlets across the state to maintain stable prices on food and non-food items and refrain from increasing prices without obtaining the approval of the committee that sets price caps and profit margins in line with article 2 of Ministerial Decision Number (8) of 2013, which regulates price hikes on commodities and services.

The Ministry stressed that it will not tolerate any violations of the Consumer Protection Law and its regulations, and will intensify its inspection campaigns to crack down on violations.

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