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Kuwait - MoCI foils attempt to raise foodstuff prices illegally  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 20/10/2013

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(MENAFN - Kuwait News Agency (KUNA) The Ministry of Commerce and Industry said Saturday it managed to discover 7,000 tons of foodstuffs stored by 36 companies in a bid to raise their prices illegally.
The goods include vegetables and fruits, and were detected during a crackdown following an inspection of the prices that showed an abrupt hike during the Eid Al-Adha, Muslims' grand feast, holiday.
The crackdown targeted the central market of Grocery marketplace in Al-Sulaibiya area, where a quantity of 6,500-7,000 tons of foodstuffs were found, according to a statement by the Ministry.
The inspection team of the Ministry took the necessary legal measures against the 36 companies involved and forced them into bringing the foodstuffs in question to the market, the statement said, expecting that the prices will be back to normal in the coming days.
The Ministry affirmed its resolve to apply the law on any company that seeks illegal gains through fraudulent prices hikes or undermine the rights of consumers.

 






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