Thursday , October 19 2017

Eye on ‘pricing’ of commodities – ‘Stop illegal exploitation’

KUWAIT CITY, Aug 22, (KUNA): The Cabinet, at its weekly regular session held on Monday, asked the Ministry of Commerce and Industry and the Ministry of Social Affairs and Labor to submit regular reports to the Government regarding measures taken to stem the unreasonable hikes in prices of commodities.

The ministers were briefed by the Deputy Prime Minister, Minister of Finance and the Acting Minister of Oil, Commerce and Industry, Anas Al-Saleh, about the measures that have been taken by the department to ban the unjustified hiking of prices of the necessary products and the penalties imposed on violators of the relevant laws.

The Cabinet praised the action taken against price manipulators, tasked the Ministry of Commerce and Industry and the Ministry of Social Affairs and Labor to submit a regular report to the Council of Ministers regarding the measures taken by the Ministry of Commerce in this respect.

Moreover, the ministers examined a recommendation presented by the Public Services Commission on the necessary measures to check hike of fish prices, decided to task the Public Authority for Agriculture Affairs and Fish Resources to coordinate with the Ministry of Interior, the Ministry of Commerce and Industry and the Fishermen Union as well as other relevant authorities, to enforce adequate measures to stop the increase in fish prices. The Cabinet stressed that it must be “notified regarding this issue in a month as of today.”

Meanwhile, the ministers were briefed about a recommendation by the commission requesting the Ministry of Finance to grant Kuwait Direct Investment Promotion Authority the jurisdictions to distribute commercial plots. The Cabinet approved the request, tasked Kuwait Municipality with taking the necessary measures for privatizing the business plots for the benefit of the authority.

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