Shops shut down for profiteering during Ramadan

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The Ministry of Economy in the UAE said today it has closed forty-one shops for commercially exploiting consumers by hiking prices of retail goods and services in the month of Ramadan.

Hamid Ali Al-Muhairi, assistant deputy commissioner for corporate control, said in a statement that the shops have been closed down after inspections from the ministry and municipal authorities, and also warned all suppliers, distributors, wholesalers and retailers in the Emirates to not artificially raise prices.

"The UAE Ministry of Economy cautions all distributors, traders and sales outlets from exploiting consumers in the UAE," said Al Muhairi in a statement.

"The ministry will take the severest penalty in the stipulated law against violators, which have had to close their shops and have been referred to the relevant judicial courts."

Municipality authorities in the Emirates have been monitoring the retail markets to check the prices of vegetable, fruits and meat, which some reports say have increased by 20% in some districts in the holy month.

Al-Muhairi also emphasised need for suppliers in the UAE to label the price of all retail goods in Arabic, as required under the country's Consumer Protection Act (2006), the statement added.

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READERS' COMMENTS

Soaring Prices all over
Posted by Babar Ahmed, Dubai, U.A.E. on Wednesday 3 October 2007 at 08:00 UAE time

The traders are forced to sell at higher margins because its getting difficult to cope up with their overheads. Rents of premises have more than doubled, official fees... and the list can go on.

Price hikes
Posted by Dont be silly, Dubai, UAE on Wednesday 3 October 2007 at 08:00 UAE time

Raj, I believe that the municipality is interested more in securing the well being of the majority of residents and their fundamental needs to be able to break their fast in a good way, rather than worrying about us fortunate people who can afford to visit expensive hotels for Shisha, which I'm sure you can agree is not strictly necessary. And well done too.

Shop shut for overcharging
Posted by m farley, Sharjah, UAE on Tuesday 2 October 2007 at 22:00 UAE time

What about the hike in prices at the hotels particularly for Eid?

profiting in ramadan
Posted by may karam, dubai, uae on Tuesday 2 October 2007 at 20:00 UAE time

But do you understand that these little shops still have to pay the incredible rents of Dubai? I am not an owner of a shop , but i understand the a shopkeeper will do any thing he can to not lose his livelihood. Maybe the authorities should oblige landlords to get half the rent only in Ramadan to compensate for the lost business!

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