20/07/2010
Saudi Ministry facing prices manipulation
Ministry of Commerce and Industry started taking steps toward accusing traders whom were involved in prices manipulation, after the files had been transmitted to the Bureau of Investigation and Prosecution for the preparation of the indictment before being submitted to the court which will adjudication against those involved. This move comes after those traders who ignored the need for a price tag on all food including consumables necessary.
Furthermore; Saudi Okaz newspaper reported that according to the trade regulations list of the Ministry of Commerce, specifically paragraph (A) adding that the price-tag is a mandatory for any trade means, and the Ministry gave the right to the members of the Commercial Fraud to report any violation to the Bureau of Investigation and Prosecution.
Al-Khalil has revealed on a number of traders warned about not putting the price-tag on each items of food, including consumables necessary. He added that we seen through our field trips over the last few days more than 7000 shops in Hail city.
The Ministry of Trade and Industry started to form specialized committees in each region of the Kingdom in order to control the prices and its conformity to the consumer before the holy month of Ramadan.
Moreover; Undersecretary of the Ministry of Trade and Industry for the Consumer Affairs declared to the Saudi newspaper"Okaz" that the ministry would issue a report integrated on the prices of items of Ramadan in all regions of the Kingdom during the two weeks from now and that the ministry is currently monitoring of prices in the markets and know all the available products from these materials, stressing that the ministry will be fully dedicated through its field visits to ensure consumer protection.
