ArabianBusiness.com - Middle East Business News
Monday, 23 November 2009 16:05 UAE time

YOUR DIRECTORY /

| Share |

Retailers face Ramadan price crackdown

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 19 August 2008
PRICE WARNING: Retailers who exploit consumers during Ramadan will be punished. (Getty Images)

Exploitative retailers who deliberately hike food prices during the holy month of Ramadan face severe punishment including being shut down, the UAE Ministry of Economy (MoE) warned on Tuesday.

Mohammed Ahmed bin Abdel Aziz Alshihhi, planning sector undersecretary at the MoE, said the ministry would launch an inspection campaign to monitor prices during Ramadan.

The UAE-wide initiative aimed to prevent price manipulation or monopolisation, and ensure stable prices during the holy month, he said.

Story continues below
advertisement

Government officials will inspect retail outlets to ensure that prices remain at previously agreed levels.

The ministry has also launched a ‘hotline’, allowing consumers to notify the MoE of price monopolisation or price rises via telephone.

“The ministry is always on the lookout to enhance the stability of the market and control price rises. During Ramadan some traders tend to take advantage of the situation and increase prices,” Alshihhi said.

"Through its offices all over the UAE, the Ministry of Economy will take strict steps against any such attempt to exploit consumers."

Violators will be punished according to the UAE's consumer protection law, with penalties including the closing down of outlets, he warned.

The ministry has also issued a circular in Arabic, English and Urdu to retailers and suppliers warning them against any exploitation during Ramadan and Eid Al Fitr.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

 EMAIL ALERTS

  1. Ministry of Economy - UAE

  2. Culture & Society


CURRENCY CONVERTOR

Tell us your story

READER COMMENTS

  1. Dubai population grows 1.9% in Q2 08
    23 Nov ' 09 at 13:24
    Fact: I have left the country and so has another colleague of mine. Some others are in the process of leaving. Moreover, there are lots...   More  »
  2. Dubai developers see negative press reports decline 07
    23 Nov ' 09 at 15:51
    Of course there is a lack of bad press. There are no new projects commencing, no projects getting handed over, no people buying, loads...   More  »
  3. Fewer drivers killed on Dubai roads last year 04
    23 Nov ' 09 at 15:21
    Hi Mick, can I make a suggestion. If you travel with someone, then let him video this driver with your mobile. You can pass that onto...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM