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Major supermarkets in UAE to cut food prices during Ramadan
Major supermarkets will reduce prices of essential food items during Ramadan under a deal signed with the UAE Ministry of Economy (MoE).
- By Nadia Saleem Staff Reporter
- Published: 23:54 June 22, 2008
Dubai: Major supermarkets will reduce prices of essential food items during Ramadan under a deal signed with the UAE Ministry of Economy (MoE).
"We have suggested a basket to outlets, which will include 15 main food items," said a spokesperson of the Ministry of Economy during a press briefing, adding that there is a "need to place a discount on the prices, especially during Ramadan."
A meeting took place among federal and local government bodies, cooperative societies and UAE-based local and foreign retail companies, which represent 70 per cent of the UAE retail market, to discuss domestic market conditions and coordinate plans for Ramadan.
MoE Undersecretary Mohammad Ahmad Bin Abdul Aziz Al Shihhi emphasised that the ministry has prepared a comprehensive plan to monitor and control markets in preparation for Ramadan, according to an official statement. Outlet chains such as Co-op Union, Choithram, Carrefour, LuLu and others had signed the contract earlier, including many food items.
"There will be further discounts during Ramadan to the existing fixed prices under the contract with the outlet chains," said Dr Hashem Al Nuaimi, consumer protection department director, MoE.
He said the items may end up being more or less than 15 as the basket is only recommended and not enforced.
"This is mainly to activate the MoU that we have with the ministry," said Majid Hamad Al Shamsi, chairman, consumer Co-op Union, and Union Co-op.
Officials said that they are asking outlets to actively consider social responsibility and to "ease the burden of high prices on the wallets of the consumer."
"Discounts happen every year in Ramadan, but we want to emphasise the food problems being faced this year around the world," Al Shamsi said.
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