Shops under MoE pact to show fixed price stickers

ABU DHABI — All commodities covered by special agreements between by the Ministry of Economy and various cooperatives as well as with Carrefour and Lulu Hypermarket would carry stickers indicating '2008 Fixed Price'. This would help stabilise the prices of select commodities to the rates that prevailed in 2007.

By A Staff Reporter

Published: Thu 19 Jun 2008, 8:17 AM

Last updated: Sun 5 Apr 2015, 6:32 PM

Mohammed Ahmed bin Abdulaziz Alshihhi, Undersecretary in the MoE, said the latest initiative, being taken on the directives of Minister of Economy Sultan bin Saeed Al Mansouri, is aimed at ensuring consumer access to hundreds of basic commodities and distinguishes these products from other items sold at the outlets.

Alshihhi added that goods and commodities carrying fixed-price stickers would help consumers to easily identify products covered by the special agreements.

He said the outlets that have signed price stabilisation agreements with the ministry cover around 70 per cent of the local retail market.

Alshihhi pointed out that several associations had responded positively to the ministry's call to reduce the prices of all basic food commodities and to sell selected products to the public at cost price. This, he said, would help maintain market stability.

He praised the cooperative societies, Carrefour and Lulu Hypermarket for their support of government initiatives to maintain market balance and urged them to explore and implement other initiatives which could further expand the product coverage of their special agreements.

Alshihhi also called on traders, institutions and cooperative societies to take advantage of legal amendments covering the writing-off of 15 foodstuff agencies included in the commercial register, and the import of selected food materials into the country's markets without any conditions.

He pointed out that the Ministry encourages cooperative societies to import basic foodstuffs collectively through cooperative unions so that competitive prices could be implemented, which ultimately serves the interests of consumers, associations and the local market.

In case of complaints regarding fixed-priced goods and commodities the consumers can contact the Department of Consumer Protection on hotline number 600522225.

The ministry has also signed a memorandum of cooperation with cement producers to keep cement prices in check and increase domestic production of their product with the aim of stabilising the domestic cement market.

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