Saudi plan to expose retailers' mark-up rates

RETAIL PRICE: Saudi officials are mulling proposals that would tell shoppers how much retailers add to the prices of products when they sell them. (Getty Images)

Saudi officials are considering proposals that would reveal the mark-up that retailers in the kingdom put on their products for sale.

The Ministry of Commerce and Industry is studying a plan to announce the prices of commodities according to the value stated on the customs clearance card when they were brought into the country.

The initiative aims to tell consumers about the difference in the price of the product when it arrives and the profit added by retailers when it is sold in shops, the Saudi Gazette reported on Wednesday.

The experts committee at the Council of Ministers is also considering a plan to work out a uniform price index for food and consumer products, the paper added.

Prince Dr Mansour Bin Mit’eb Bin Abdul Aziz, deputy minister of Municipal and Rural Affairs, said the objective behind the index was to monitor prices of food and consumer products all over the kingdom.

The ministry has also set up a consultation office to study the impact of the rise in prices on merchants and consumers.

Print | Email | Discuss this article

| Share |

MORE FROM ARABIANBUSINESS.COM