The fasting month of Ramadan is quickly approaching, and preparations are under way to ensure that food prices remain stable.
The UAE’s Ministry of Economy is taking steps to ensure that fruit and vegetable prices remain stable, with vendors agreeing to resist the temptation to make a quick profit at the expense of the faithful. And the vendors have also agreed to make sure that supplies are increased during Ramadan, providing ample stocks as demand increases.
While the vendors have voluntarily agreed to the price freeze, the ministry is also ready to impose stiff fines of Dh5,000 to Dh10,000 on those who are tempted to ignore the freeze and hike their profit margins.
The fruit and vegetable price freeze comes hard on the heels of a similar measure by the ministry, which will impose fixed prices on a shopping basket of 1,650 basic commodities. This is more than double the number of items frozen in 2011.
With firm action and punitive measures, the Ministry of Economy is taking every possible measure to provide stable pricing and fixed costs — and for that we are grateful. Those who ignore the freezes do so at their peril.
