UAE starts price control campaign for RamadanAugust 20th, 2008 - 11:22 am ICT by IANS
Dubai, Aug 20 (IANS) The United Arab Emirates’ (UAE) Ministry of Economy has launched a comprehensive nationwide price control campaign to prevent manipulation and monopoly and ensure smooth supply of food items during the Islamic holy month of Ramadan.The ministry is coordinating with consumer cooperative societies and major retail outlets to prepare the Ramadan food basket for consumers at cost prices with effect from next week, the state-run Emirates News Agency (WAM) reported.
The food basket will bear the logos of the ministry and the respective cooperative societies.
“The ministry will be tough with offenders through its offices which will conduct inspections across the country,” said Mohammed Ahmed Bin Abdul Aziz Al Shehi, undersecretary in the ministry’s planning section.
He added the ministry was keen to stabilise the market by curbing soaring prices, particularly during the month of Ramadan, beginning at the start of September, in which some traders manipulate prices and monopolise commodities.