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Greedy suppliers to be blacklisted by Co-ops

DUBAI - Cooperative societies here have warned 83 suppliers, who had hiked prices of their goods by 20 per cent to 30 per cent, that the issue would be taken up with the Consumer Cooperative Union (CCU) if they continued to pressurise the societies with the new rates and continued suspension of supplies.

Marwan Al Thani, Director of Union Cooperative Society said they will take strict measures if the suppliers tried to exploit the situation arising out of the salary hike for government employees announced by the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan.

He said all the cooperatives in UAE will hold a meeting on Tuesday with the Cooperatives Consumer Union to assess the situation and take a unified decision to tackle the greedy suppliers.

“First, we will try to covince the suppliers who have stopped supplies to reconsider their decision, and if they don’t comply, we will provide our customers with other products, of which we have huge stocks. If that also doesn’t work, we will send the list of these errant suppliers to the Ministry of Economy and Planning which has been authorised by the cabinet to take all measures to monitor prices of goods,” he said.

Describing the situation as a test for coopertive societies, consumers unions and consumers, he said: “We have to achieve success, and the consumers should also be made aware of the situation. They should stop purchasing certain brands and reject hike in prices by seeking other alternatives. The cooperative societies will look into various options and strategies which can offer indirect support to consumers in the long run.”

He said that while the societies have no control over the prices, they can always take unified action which will force the suppliers to respect market mechanisms.

• UAE