Business | Economy
Oman tells traders to control spiralling prices
Oman's Minister of Commerce and Industry Maqbool Bin Ali Sultan on Sunday exhorted traders in the country to control spiralling prices of essential commodities, especially in light of advent of the holy month of Ramadan.
- Staff Report
- Published: 00:29 September 12, 2007
Muscat: Oman's Minister of Commerce and Industry Maqbool Bin Ali Sultan on Sunday exhorted traders in the country to control spiralling prices of essential commodities, especially in light of advent of the holy month of Ramadan.
During a meeting with the suppliers, traders and shop owners, the Minister explored means to controlling the price rise.
"Refrain from increasing prices of essentials during Ramadan," he told the gathering at the Ministry of Commerce and Industry auditorium. He also asked the trading community to waive shelf rents charged from wholesalers and manufacturers and offer discounts to the consumers.
Maqbool also called upon traders not to exploit the consumer during the holy month by raising prices but "reduce prices, give discounts and ensure that enough supplies of basic commodities and consumer goods are available in the market."
He said there was no need for prior approval from the ministry for offering discounts at supermarkets and hypermarkets during the Holy Month of Ramadan.
He also appealed to consumers to switch from expensive branded products to alternative cheap brands to avoid extra burden on living cost.
Meanwhile, Oman Chamber of Commerce and Industry (OCCI) president Khalil Bin Abdullah Al Khonji told state-owned Oman News Agency that the surge in prices could not be blamed on the country's merchants. "Compare prices and do not get carried away by advertisements that promote some products, for which there could be substitutes," he advised the consumers.
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