9.31 AM Friday, 29 March 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:56 06:10 12:26 15:53 18:37 19:52
29 March 2024

All price hikes in UAE blocked until the end of Ramadan

Published
By Wam

In order to guarantee price stability, UAE's Supreme Committee for Consumer Protection, at its Sunday meeting, suspended the processing of requests for price increases received before the Holy Month of Ramadan, until the end of Ramadan.

Sultan bin Saeed Al Mansouri, Minister of Economy, on Sunday, praised the efforts of the Supreme Committee for Consumer Protection members and other concerned bodies to promote consumer rights awareness to protect consumers from cheating.

Dr. Hashim Al Nuaimi, Director of the Consumer Protection Department, stated that among the most outstanding initiatives for Ramadan include open lists for goods to allow consumers to save up to 50 per cent, promotions that range from sales at cost price and even at less than cost price, as well as Ramadan basket offerings. This will give consumers a larger number of options, he noted adding that such initiatives will curb sudden hikes in prices during the Holy Month.

Meanwhile, the minister emphasised the importance of the cooperation between the ministry, federal entities and other local bodies parties for raising consumer awareness.

The minister made his remarks as he chaired the second meeting for the Supreme Committee for Consumer Protection, in Dubai.

Al Mansouri emphasised the importance of such meetings for planning and executing strategies to protect consumer rights, stabilise prices and reinforce economic development.

He clarified that the Ministry of Economy continues to take strategic decisions to enhance clean and fair trade practices.