Business | Markets
Ministry inspects Dubai outlets
The UAE Ministry of Economy (MoE) on Monday conducted inspection tours of a Union Cooperative Society outlet and LuLu Hypermarket in Dubai.
- By Nadia Saleem, Staff Reporter
- Published: 17:52 September 22, 2008
- Officials from the Ministry of Economy inspecting a retail outlet. Chains such as Union Cooperative Society, Choithram, Carrefour and LuLu signed a contract with the ministry to keep the prices of many food items down.
- Image Credit: Supplied picture
Dubai: The UAE Ministry of Economy (MoE) on Monday conducted inspection tours of a Union Cooperative Society outlet and LuLu Hypermarket in Dubai.
Teams from the ministry's different offices have been inspecting retail outlets nationwide during Ramadan to ensure that prices remain at agreed levels and to prevent any possible manipulation by traders.
Mohammad Bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy, headed the visits to monitor prices during Ramadan.
Commitment
"The retailers are showing commitment in pricing essential commodities according to the agreements that they recently signed with the ministry," Al Shehhi said in a statement.
Retail supermarket chains signed a memorandum of understanding (MoU) in June with the MoE, during a meeting with federal and local government bodies, cooperative societies, and UAE-based local and foreign retail companies, which represent 70 per cent of the total UAE retail market, to discuss domestic market conditions and coordinate plans for Ramadan.
Outlet chains such as Union Cooperative Society, Choithram, Carrefour, LuLu, and others had signed a contract earlier, to keep the prices of many food items down.
The ministry warned Carrefour last week for increasing chicken prices in Ajman and urged retailers to ensure that price stability is maintained during Ramadan. Al Shehhi said violators will be punished according to the Consumer Protection Law.
The cooperation between the government body and businesses is meant to work against the soaring inflation rates in the country, according to the ministry.
Al Shehhi praised the sense of social responsibility of retail outlets towards their customers and their efforts in price management, "which were a clear example of their cooperation with governmental initiatives".
Majid Hamad Al Shamsi, Chairman, Consumer Cooperative Union and Union Cooperative Society, said earlier, "Discounts happen every year during Ramadan, but we want to emphasise the food problems being faced this year, around the world."
Consumers may call the hotline (600522225) to notify the ministry of any cases relating to monopolies or rise in food prices.
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