A scene during the opening ceremony of the AFC Asian Cup Soccer at Khalifa Stadium, in Doha, Qatar
Union approves hike in prices of many commodities ‘Citizens to spend 40% of their salaries at cooperatives’
KUWAIT CITY, Jan 7: Citizens spend an average of 27 percent of their monthly salaries at cooperative societies and very soon, they will be shelling out 40 percent due to the increase in prices of several commodities, Al-Seyassah daily quoted Head of Nuzha Cooperative Society Riyadh Al-Adsani as saying.
He claimed that the price increase was approved by Union of Cooperative Societies a few days ago. In a statement issued on Thursday, Al-Adsani said studies showed that 27 percent of citizens’ salaries was spent on buying food stuff and other basic commodities from cooperatives in 2010. “The studies predict an increase to 40 percent in 2011,” he noted.
The Union of Cooperative Societies, however, refuted the information and said no official studies were conducted in this respect.