Most notably cooking oils, eggs, fresh milk, rice, sugar, chicken, legumes and bread
«Economy»: 10 commodities whose prices are prohibited from increasing without prior approval
“Economy” will determine the maximum profit margin for each commodity for suppliers or traders.
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Abdullah bin Touq: "Finding a fair and balanced mechanism that guarantees the availability of goods in the state's markets and their access to consumers at reasonable prices."
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In this regard, the committee recommended the formation of a team of member agencies to consider and decide on requests for increasing commodity prices and submit periodic reports on them to the committee.
The committee discussed its comprehensive strategy for the next stage regarding strengthening the consumer protection system, raising the level of consumer awareness and increasing the efficiency of the market control mechanisms in the country.
The meeting witnessed the discussion of a number of new policies and procedures in this regard, most notably the consumer goods pricing policy, the regulation of the contractual relationship between distributors and sales outlets, and the development of the merchandise recall mechanism.
In this regard, Al-Marri stressed that the committee aims, through this approach, to find a fair and balanced mechanism in accordance with best practices, to ensure the availability of goods in the state’s markets and their access to consumers at reasonable prices, while at the same time guaranteeing the rights of suppliers of goods, in light of the current conditions in global markets. And its repercussions on supply chains, the rise in commodity prices and their availability in the exporting countries.
He explained that the committee will work to promote sound consumer awareness, especially in terms of smart commerce and e-shopping platforms, as well as providing mechanisms dedicated to consumer protection in exceptional and emergency circumstances.
He explained that the committee today adopts a proactive and long-term view in line with the vision of the wise leadership for the future economy and the principles and objectives of the fifty, and we will intensify our joint efforts to follow up the extrapolation of the reality of the local market, regional and international markets, anticipate their future trends and follow up on relevant global indicators, in order to ensure the availability and diversity of basic commodities in quantities that meet the needs of citizens. and residents in the country and enhance its strategic stock, thus consolidating a balanced relationship between suppliers and consumers, achieving more stability for the market and providing a safe consumer climate.
The committee will also work to promote sound consumer awareness, especially in terms of smart commerce and e-shopping platforms, as well as providing mechanisms dedicated to consumer protection in exceptional and emergency circumstances.
In a related context, the committee addressed the issue of regulating the contractual relationship between suppliers and sales outlets, reviewed the best international models used in this regard, and directed the preparation and development of a guiding model that establishes fair mechanisms and effective procedures for regulating this vital relationship so that it represents a national reference that regulates this vital relationship to ensure the flow of goods smoothly and made available to consumers in various state markets.
The committee also discussed ways of cooperation between the Ministry of Economy and the concerned authorities in the country to develop and update the procedures for recalling goods, especially defective vehicles, in light of the recommendations of the second meeting of the Federal Traffic Council, and approved, in this regard, the adoption of the formation of a committee concerned with the automotive sector headed by the Ministry of Economy and with the membership of both local and federal authorities. And the private sector concerned in this regard, to ensure that requests and notices of recall reach all consumers in all markets of the country in effective and efficient ways.
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