Come Ramadan, there is a tendency among retailers to exploit consumers, as the principle of demand and supply shifts into a higher gear. It is necessary to curb this mal-intent. The Ministry of Economy’s directives to cap the price of essential commodities during Ramadan, with a strong message to retailers to trade in fair practices, has proved to be highly effective through the years as consumers are assured of protection from unscrupulous traders and retailers. This year, 4,000 items have come under the umbrella of price protection, creating a wide bracket of affordability for every family, irrespective of their economic standing. The regulations also ensure that stockpiles of all essential commodities are maintained — an important aspect of the supply and demand scenario during Ramadan.
In addition to the price cap, steep discounts on many essential commodities, up to 70 per cent on some and amounting to Dh260 million in total, will further ease the budgetary stress on families during the month.
The ministry is also undertaking 400 rounds of inspection during this period to ensure that retailers don’t violate regulations. This degree of vigilance is key to curbing exploitation as unwarranted price increase is a baseline violation of consumer rights that can have a domino effect on declining consumer satisfaction.
In taking these steps every Ramadan, the authorities are upholding their commitment to the public and reinforcing positive purchasing experiences for them. Outside of Ramadan too, the Ministry of Economy’s Consumer Protection Department, with its stringent attention, resolution and compensation to complaints, is a great tool that keeps consumers’ rights in ship shape. It bolsters the public’s sense of safety and confidence about what their money is worth and ultimately, all these measures work towards creating a society of happy people.
