KUWAIT CITY, July 10, (Agencies): The head of the Union of Cooperative Societies, Abdel Wahhab Mashari Al-Faris, said there is no need to increase the prices of commodities in cooperative societies, stressing on the need to provide all support to the middle and working class and the preservation of purchasing power, reports Al-Qabas daily. Al-Faris said in a press statement the union is committed to the directives of the ministers of Social Affairs and Commerce and Industry, based on the decision of the Ministry of Commerce No. 67 of 2020 regarding not increasing prices, indicating that any coop that violates ministerial decisions exposes its decision-makers to legal accountability.

Al-Faris added it rejected calls to increase the prices of 45 items and refused to introduce 245 new items because they are higher than the prevailing market prices, and indicated that the coops are committed to fixing prices and the union’s circulars. He added that the union has no intention to support the price increase until the Ministry of Commerce lifts the ban, the Ministry of Affairs agrees, and inflation rates decrease, according to data approved by the Central Bank of Kuwait. He disclosed a price committee has been formed by the union to look into 315 requests and 1350 items were examined on May 30, 2023, until today, stressing that the federation of associations supports the direction of the political leadership to contribute to the welfare of the citizens.