Plan to stop goods sale in installments in Kuwait

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KUWAIT CITY, May 20: Major electronic appliances and furniture companies are studying the possibility of stopping the sale of their goods in installments after the Minister of Commerce and Industry issued a decision saying companies cannot increase the value of the product if sold in installment, reports Al-Rai daily.

Responsible sources told the daily the companies are involved in extensive discussions to study the decision of the Minister which says the company cannot charge more for customers who opt to pay in installments unlike those who pay cash.

The sources pointed out that the other conditions mentioned in the decision include setting a ceiling for these sales at five thousand dinars to be paid in equal monthly installments within a period not exceeding 3 years which negatively affects the revenues of electronics and furniture companies in the event they continue to sell goods for the same value in cash and in installments.

This news has been read 37645 times!

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