Make MENAFN My Home Page
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Oman- PACP issues new list of essential commodities with cap on price rise  Join our daily free Newsletter

MENAFN - Muscat Daily - 16/06/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Muscat Daily) The Public Authority for Consumer Protection (PACP) has issued a list of basic commodities, the prices of which cannot be raised without the consent of concerned authorities in the sultanate.

The products included in the list are rice, flour, cooking oil, clarified butter, sugar, salt, tea, coffee, lentils, beans, groundnuts, chickpeas, barley, tomato sauce, toothpaste, laundry soap, fresh and frozen meat, fresh and frozen chicken, condensed milk, powdered milk, and other dairy products like fresh milk, buttermilk, cheese and butter.

A press release stated that prices of products not included in the list will, however, depend on supply and demand.

The decision comes in line with the Council of Ministers meeting in March this year regarding amendments to the Consumer Prection Law. In this regard, the Council had said that the Committee of Food Security will review this list annually. The amendment comes after PACP's controversial decision 12/2011 which had banned increase in prices of commodities.

Keeping that decision in mind, the #Oman Chamber of Commerce and Industry had released a study on the economic implications of the government's decision in determining the prices of commodities and services in September 2011.

The study showed the negative impacts of restricting the prices of commodities in the local market. It further added that such policies adversely affect the market.

PACP has circulated the new list of commodities in all governorates so that the decision of the Council of Ministers can be implemented and the rights of the consumers protected.


 
 


Muscat Daily




Loading, Please wait....


 





Google

 
 

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

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help