The Ministry of Commerce and Industry announced on Sunday, September 8, 2019, the launch of a new initiative that sets the maximum prices of fish and seafood and regulates their sale based on a mandatory bulletin. The prices will be published daily following an auction that will take place under the supervision of the Ministry. The initiative is aimed at preventing unjustified price increases, cracking down on monopoly practices and ensuring consumers’ right to purchase goods at reasonable prices.
The Ministry noted that the daily fish and seafood price bulletin will be introduced as of Tuesday morning, September 10, 2019.
The initiative comes within the framework of the Ministry’s role in overseeing and regulating markets in line with its jurisdiction and taking the necessary measures to protect consumers, combat commercial fraud, promote competition and prevent monopolistic practices. Through the initiative, the Ministry aims to maintain a balance in the relationship between consumers and suppliers or merchants, in order to protect the commercial and economic environment.
The Ministry will issue a daily bulletin that sets the maximum sale prices of fish and seafood. The prices outlined in the bulletin issued on the last business day will apply to official holidays.
The initiative requires retailers to place a label in a prominent place indicating the type and selling price of each type of fish and seafood. Retailers shall not charge prices higher than those set in the daily price bulletin and shall only sell healthy and consumable fish.
Traders shall also refrain from taking any measures or actions aimed at raising the prices of fish under any pretext while committing to providing any additional service in line with the prices outlined in the mandatory bulletin.
The initiative emphasized the importance of abiding by the maximum prices outlined in the daily bulletin, displaying the bulletin in a prominent and clear place and providing the buyer with a detailed invoice. The initiative also compels merchants to comply with the storage conditions of fish and seafood in accordance with applicable health and safety standards.
The Ministry provided a set of tips and guidance, advising consumers to tour the market for a sufficient time to purchase the appropriate goods at the right price. The Ministry also urged consumers to examine the quality of fish and seafood on sale, as well as to refrain from purchasing fish at prices higher than those set in the daily price bulletin. The consumer must also request an invoice from the seller and refrain from buying fish and seafood from unauthorized street vendors.
The Ministry of Commerce and Industry stressed that it will intensify its inspection campaigns to ensure the suppliers’ compliance with their obligations and the daily price bulletin that sets the maximum price of fish and seafood
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