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Monday , February 24 2020

Co-ops found violating price rules face penalty

KUWAIT CITY, June 23: Chairman of Pricing Committee, the Director of Media and Public Relations Committee at the Union of Consumer Cooperative Societies, Sami Al Muneikh disclosed that 27 citations were issued against Yarmouk and Rawda & Hawally cooperative societies for violating prices set by the union.

In a statement on the sidelines of a recent field trip to Yarmouk and Rawda & Hawally cooperative societies in the company of union inspectors to ascertain their level of commitment to circulars issued by the union, Al Muneikh said cooperative societies that continue to violate regulations will be reprimanded through the dissolution of their board of directors.

He pointed out that the committee is responsible for preparing and referring necessary reports regarding violations to the Ministry of Social Affairs for necessary legal action. He noted the union had emphasized in its circular that the board of directors of cooperative societies should comply with regulations and desist from adding new categories of items unless their prices have been approved by Prices Monitoring and Follow-up Committee or a circular is issued by the union for that purpose.

Al-Muneikh insisted that inspectors should be empowered to adequately execute their responsibilities; given that they exert efforts and work around the clock through periodical examination of different categories of products displayed in the cooperative societies to ensure their prices are the same as specified in the circular.

He stressed the need to reinstate the authority of the Prices Committee, which was transferred to the Ministry of Trade, to make it possible for the committee to determine the prices of commodities — in terms of raising or reducing prices.

By Fares Al Abadan Al Seyassah Staff

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