KUWAIT CITY, May 27: More than 20 cooperative societies recently increased the prices of goods without obtaining approval from the Price Control Committee at the Cooperative Societies Union, reports Al-Anba daily quoting Board Chairman of Dasma and Bneid Al-Gar Cooperative Society and secretary of the committee Mohammad Ashour.
Ashour urged the ministries of Social Affairs, Labor, Commerce and Industry, as well as the union, to immediately take the necessary action against the cooperative societies, which allegedly violated the pricing regulations.
He also demanded taking the same measure against the companies that raised the prices of their products without valid reason or approval from the committee. He said the committee imposed a ban on increasing the prices of goods in the local market after the distribution of the Amiri grant to the citizens to prevent the unscrupulous traders from taking advantage of the grant to hike the prices.
Meanwhile, in the wake of deteriorating performances at the cooperative societies, it has become imperative to modify the draft law of cooperatives recently approved in its preliminary deliberations, reports Al-Jareeda daily quoted a reliable source from Ministry of Social Affairs and Labor as saying.
According to the source, approving modifications tot eh draft law will facilitate development at the cooperative sector and unify the efforts of cooperative societies to attain comprehensive development.
Thd founding of cooperative societies was among the pioneering ideas in Kuwait.
However, those following up events will notice the sector has deviated from its objective, the source added. He cited that some members of cooperative societies quickly attain wealth after joining the board of directors. He went on to mention financial and administrative violations at the sector that were proven by Investigation Committees.
He disclosed that nearly 90 percent of cooperative societies across the six governorates are somewhat involved in financial and administrative violations.
Moreover, the ministry’s decision to dissolve the board of more that 10 co-societies over the past two years confirms that performances have deteriorated a the sector, the source added.
He is surprised with fierce attacks some chairpersons of co-ops society boards have launched against the proposal to modify specific articles of the current cooperative law and wondered why they are dissatisfied with the proposal if the objective will serve shareholders.