Ministry of Economy to keep tight vigil against price rises during Ramadan

The country-wide campaign aims at preventing any possible manipulation or monopolisation and ensuring stable prices during Ramadan.

As part of the initiative, the ministry is also co-ordinating with co-operatives and major retail outlets to prepare a cost price food basket for consumers.

Teams from the different offices of the ministry will inspect retail outlets all over the UAE during Ramadan to ensure that prices remain at agreed levels and to avoid any possible manipulation by traders.

H.E Engineer Mohammed Ahmed Bin Abdel Aziz Alshihhi, Undersecretary - Planning Sector at the Ministry of Economy, said:

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

The ministry has already held a series of meetings with the agencies concerned to ensure the smooth flow of the campaign.

MoE also met with poultry production companies, who have pledged their commitment to the initiative.

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

Violators will be punished according to consumer protection law number (24), the ministry has cautioned. Penalties could even lead to closing down of violating outlets.

The Ministry of Economy has also co-ordinated with the General Authority of Islamic Affairs & Endowment to include a speech in Friday sermon on the importance of cutting down on food consumption during Ramadan, as it will help in preventing price rises.

Consumers can call the hotline (600522225) to notify the ministry of any cases relating to monopolisation or rise in food prices.