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29 March 2024

Don’t hike prices for Eid: shops warned

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The Ministry of Economy has issued a stern warning to local markets not to take advantage of the surging demand for Eid Al Adha and raise their prices, saying violators could be fined up to Dh100,000.

In a statement issued on Sunday, the Ministry said it would meet representatives of shopping outlets on Monday to discuss prices.

“The Ministry warns all traders and shopping outlets against hiking their prices before and through Eid Al Adha without seeking prior approval from the Ministry,” said Hashim Al Nuaimi, head of the consumer protection division.

He said the Ministry had received requests from some dealers to raise prices and that they had been referred to the supreme consumer protection committee.

“The committee has not given its approval yet…we warn all those concerned that the Ministry will not tolerate those who violate the consumer protection law as they will be fined up to Dh100,000,” he said.