Thursday , March 22 2018

‘New power tariffs to hit food prices in co-ops’

KUWAIT CITY, May 4: An expert in the cooperative society sector warned about a possible dramatic change in the prices of food items in case the cooperative society sector is transformed into an investment sector and the new prices of electricity are applied, reports Al-Anba daily.

He said the Board Chairman of Mishref Cooperative Society Abdulrahman Al-Khudairi stressed the importance of settling this problem which is threatening the country’s food security especially since the cooperative societies manage 90 percent of Kuwait’s food sector.

Al-Khudairi also revealed that the cooperative society pays a total of KD 75,000 for electricity every year but it will be asked to pay KD 700,000 after new electricity tariffs are applied, which will in turn reflect on the prices of goods sold in the cooperative societies.

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