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Ministry to ensure prices match international rates

By Staff Writer

The Ministry of Economy will strengthen its co-ordination with the suppliers of various essential commodities to ensure that the prices are reduced, as and where possible, and in line with international trends, said Sultan bin Saeed Al Mansouri, Minister of Economy.

He praised the initiative of milk suppliers in reducing milk powder prices and said it reflected their corporate social responsibility towards the consumers.

"The ministry is keen to ensure market stability by preventing manipulators from hiking commodity prices," Al Mansouri said. "The ministry will take serious action against any attempt aimed at disrupting the market equilibrium."

Dr Hashim Al Nuaimi, Director of Consumer Protection Department at the Ministry of Economy, recently chaired a meeting with milk suppliers and discussed the issue of reducing prices in order to match the 50 per cent fall internationally.