Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Consumer protection stays top priority says Al Mansouri  Join our daily free Newsletter

MENAFN - Khaleej Times - 12/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Committee reviews mechanism for firms about raising prices

sultan bin saeed al mansouri and other officials at first meeting of supreme committee for consumer protection for 2014. — supplied photo

consumer protection is among the top priorities for the ministry of economy as it ensures social stability for citizens and residents who are the end users of products and services and constitute the most important link in the economic chain according to sultan bin saeed al mansouri the uae’s minister of economy.

his comments came during the first meeting of the supreme committee for consumer protection for 2014 which was held last week in dubai.

al mansouri said: “the initiatives launched by the ministry of economy and the supreme committee for consumer protection have succeeded in maintaining market stability and have reduced attempts at monopolistic behaviour including arbitrary raising of prices.

“i have repeatedly emphasised the ministry’s keenness to support consumer purchasing capacity and preserve the rights of the consumers. the ministry is keen to make them aware of their rights and accordingly guide them to follow the right consumer behaviour within the framework of the federal law no 24 of 2006 for consumer protection.”

the committee reviewed a series of reports outlining key issues relevant to the performance of markets. among the most notable was a report on the implementation of the cabinet decision no (1) for 2014 stipulating terms and conditions of solutions with regard to offenses committed against consumers by companies. the committee additionally reviewed a report on the recall and recovery processes in the uae and its implementation. applications submitted by companies seeking to raise prices of their products were also examined. regarding the report on the implementation of the cabinet decision no (1) for 2014 the supreme committee proposed that the ministry should establish a reconciliation committee to consider requests submitted for convivial solutions relating to violations of the consumer protection act. the committee also called for the identification of such solutions depending on the type of violation. a review procedure to identify harmonious out-of-court solutions has already been set up by the cabinet.

the supreme committee also reviewed the proposed mechanism for informing the companies about its decisions on their requests to raise prices based on article (4) of the federal law no 24 of 2006 on consumer protection. in this regard dr hashim saeed al nuaimi director of consumer protection department of the ministry of economy stated that the ministry has informed all retail outlets and restaurants to apply for requests to raise prices. he added that the ministry of economy has prepared an official form to be used by companies when making such requests.

at the end of the meeting the supreme committee for consumer protection reviewed the price fixing practices of the commercial sector. the exercise was aligned with the consumer protection department’s coordination with outlets and cooperative societies that have pledged to keep prices locked for select items. the number of items for which prices were locked totaled nearly 1000 in 2012 and rose to 1600 in 2013. the number is expected to rise to 3000 commodities by the end of 2014. the decision to lock prices is part of the ministry of economy’s ongoing efforts to promote competition and consumer protection in the uae.


 






  MENA News Headlines
 Jul 31 2014 - Air Algerie's plane crashesMENAFN
(MENAFN) A senior official said that the Air Algerie flight that crashed in Mali last week appears to have plummeted to the ground from an altitude of 10,000 meters in just a few minutes after flying ...

 Jul 31 2014 - Dubai's Damac eyes listing shares in Dubai bourseMENAFN
(MENAFN) Dubai luxury property developer Damac is trying to attract investors to invest in converting its Global Depositary Receipts (GDRs), listed on the London bourse, into ordinary shares that ...

 Jul 31 2014 - 'Nearly 100 casualties' in Xinjiang violenceArab News
(MENAFN - Arab News) IJING: A clash in Xinjiang home to China's mostly Muslim Uighur minority left nearly 100 people dead or wounded an exile group said Wednesday after what authorities called a ...

 Jul 31 2014 - Aquino seeks to quash rumors of military coupArab News
(MENAFN - Arab News) NILA: Philippine President Benigno Aquino sought Wednesday to quash rumors that a coup is being plotted against him with his spokesman insisting he had the military's full ...

 Jul 31 2014 - Kerry in New Delhi to reboot ties with ModiArab News
(MENAFN - Arab News) W DELHI: US Secretary of State John Kerry flew into India on Wednesday for ice-breaking talks with new Prime Minister Narendra Modi forecasting a transformation in Washington's ...

 Jul 31 2014 - UK bankers' bonus: Tough rules on wayArab News
(MENAFN - Arab News) NDON: British banks will be able to claw back employee bonuses up to seven years later if the recipient is found guilty of serious recklessness the Bank of England ...

 Jul 31 2014 - Amazon to invest 2bn to expand in IndiaArab News
(MENAFN - Arab News) MBAI: The world's largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees.Amazon.com Inc. said it will invest ...

 Jul 31 2014 - Mobily Wajid offers free lines to family membersArab News
(MENAFN - Arab News) Bily continues to provide its extraordinary offer to the new subscribers of Wajid that provides discounts and privileges to all family members.The new Wajid Extra and Plus ...

 Jul 31 2014 - Wife of BIS official dies in road crashArab News
(MENAFN - Arab News) E wife of a member of the governing board at the Bangladesh International School (BIS) in Jeddah was killed in a road accident on Tuesday the second day of Eid Al-Fitr.Nasima ...

 Jul 31 2014 - Indian Eid program toned down in solidarity with GazansArab News
(MENAFN - Arab News) Extensive yearly Indian community Eid program was reduced to a simple get-together ceremony on Monday night in solidarity with the victims of Gaza.Indian expatriates condemned ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help