Even small increases must obtain written consent, Minister of Economy said
The Minister of Economy has assured consumers in the UAE that there will be no retail price hikes during the holy month of Ramadan without prior approval.
Speaking to the news agency, WAM, Sultan bin Saeed Al Mansouri said suppliers and retailers cannot increase prices of essential consumer commodities during the month-long religious period without the written consent of the authorities.
Presiding over a meeting of the Higher Committee for Consumer Protection on Saturday, Al Mansouri said that even a slight increase in the price of any goods requires an approval by the ministry.
"The ministry will conduct inspection visits to the shops and restaurants throughout the holy month to ensure their compliance with laws and regulations pertaining to consumer protection," he added.
The meeting also discussed the ministry’s plans, in conjunction with other federal bodies, to curb the sale and consumption of energy drinks.
The UAE's Ramadan Moon Sighting Committee has announced that the holy month of Ramadan will begin on Sunday, June 29.