Increasing Penalties for Unfair Price Increases
Muhammad Al-Aiban, the Minister of Commerce and Industry and Minister of State for Youth Affairs, issued a directive today urging the inspection and supervisory teams to increase their surveillance efforts. By artificially inflating goods' prices, he emphasized their responsibility to impose the maximum penalties on those who violate the law.
According to a press release issued by the Ministry of Commerce following Al-Aiban's meeting with the Commercial Control and Consumer Protection Sector, employees are the first line of defense against merchant greed. Taking advantage of salary increases for unjust enrichment is prohibited, he said explicitly. This directive is a proactive measure to regulate and monitor unwarranted increases in commodity prices, coinciding with the recent approval of financial increases for retirees.
During the meeting, Al-Aiban engaged in discussions with the heads of the Commercial Control Emergency Department, the Director of the Technical Apparatus for Commodity Supervision, and the Director of the Consumer Protection Department about developments in the work plan of the Commercial Control Department. The purpose was to assess their preparedness to address potential price increases in the upcoming period. Furthermore, Al-Aiban listened to the insights and recommendations of the inspection teams, aiming to address any challenges they might face and empower them to fulfill their duties effectively. In ensuring fair market practices and safeguarding citizens against economic exploitation, the Ministry takes this proactive approach.