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Oman pushes for price freeze

Oman's government on Wednesday urged traders to cap prices of all essential commodities during the month of Ramadan.

  • Staff Report
  • Published: 22:48 July 2, 2009
  • Gulf News

Muscat: Oman's government on Wednesday urged traders to cap prices of all essential commodities during the month of Ramadan.

The appeal came during a meeting convened by top officials of the Ministry of Commerce and Industry with executives of the country's leading importers, distributors and retailers.

Prices of key foodstuff items, such as rice, cooking oil and sugar, typically spike in tandem with a surge in demand during the fasting month.

With prices of most commodities already at multi-year highs, any further increase is seen as unduly burdensome on low-income sections of the population.

Senior Ministry officials Ahmad Bin Sulaiman Al Maimani, Undersecretary for Administrative, Financial Affairs and Estates' Affairs, and Ahmad Bin Hassan Al Dheeb, Undersecretary for Commerce and Industry, made a joint appeal for stable prices and adequate supplies of basic commodities during the month.

The government, they warned, would not condone any price hike by traders citing such "excuses" as rising oil prices or higher freight costs. Any legitimate increase would only be considered after the Ministry is duly notified of an impending hike, the officials stressed.

Wednesday's appeal for a price freeze mirrors a similar moratorium agreed by traders during last year's fasting month.

In addition to a pledge to cap prices, major retail outlets also launched special 'Ramadan Value Packs' of key grocery items at concessional rates for the benefit of economically weaker sections of the community.

These 'value packs' include rice, flour, sugar, cooking oil and pulses, as well as items consumed during Ramadan.

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