Plan for online system to help regulate prices

January 19, 2014 - 2:52:41 am

DOHA: The government is planning to put in place an online monitoring system to support its efforts to regulate the prices of goods and services.

An early warning system would be part of the initiative to alert the market about the supply-demand trends in the international market.

The online system would link with various warehouses, customs departments at ports, airport and border check posts apparently to get an idea of the exact volume of essential commodities entering the local market and stocks available in the warehouses.

It will also be linked with the International Food and Agricultural Organisation (FAO) of the UN to give clear indications about the strategic stocks of essential commodities across the world. 

The Global Information and Early Warning System on Food and Agriculture (GIEWS) at FAO keeps the world food supply and demand situation under continuous review, issue reports on the world food situation, and provide early warnings of impending food crises in individual countries.

The State Cabinet’s 2012-13 annual report also noted that the government is planning to launch more warehouses in the country, according to Al Sharq. The Ministry of Economy and Commerce is working on a project that would provide warehouse facilities to Qatar’s Small and Medium Enterprises (SMEs) at a subsidised cost. A committee has also been set up to look into the demand of warehouses and the demand and supply of primary construction materials.

Authorities will conduct a study of the problems and challenges faced by Qatari exporters. The study will also cover issues related to warehouses, including the shortage of sufficient number of warehouses in view of the upcoming mega projects. The authorities will also look into how to bring in healthy competition in the retail market. Preparing a database for the import of poultry and dairy products is another initiative to be taken up by the authorities to regulate the retail market.

The report noted that 301 foreign companies were set up in the country during the period. The year also saw the establishment of Four Investment Funds, 2,825 new WLL companies and 12 shareholding companies.

The government also set up a joint committee that would look into the requests for foreign investments and to liberalise the procedures to attract the investment flows into the country. The authorities have also completed a detailed report on the marketing of primary construction materials and a set up rules and regulations for the market in the automobile sector.

The annual report noted that 7,859 inspections were conducted at different commercial establishments. The anti-fraudulent department received a total of 3,717 complaints on its hotline and 1,199 inspections were undertaken at commercial organisations.

The Peninsula

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