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Thursday , August 18 2022

Price hike rumors spread on ‘social media’ clarified

This post has been read 11105 times!

KUWAIT CITY, March 30: The Public Relations and Security Media General Department at the Ministry of Interior said the Criminal Security Sector has clarified rumors spread on social media about the questionable increase in the prices of certain commodities, reports Al-Anba daily. This came after a video clip went viral on various social media platforms, in which a contractor talked about the alleged price hike. The department confirmed that the necessary legal action has been taken in this regard. In addition, a source from the legal field said the contractor was investigated for violating law number 10/1970 on the supervision of trade in all commodities and setting the prices. He pointed out the law stipulates penalties for those who raise prices without justification as follows: imprisonment and fine.

The source elaborated that the contractor violated Article Two of the aforementioned law, which states “it is prohibited to cause artificial price hikes and one way of doing so is broadcasting incorrect news in this regard.” Meanwhile, the Kuwait Society for Consumer Protection Chairman Khaled Al-Subaie has appealed to the concerned authorities to address the problems of livestock breeders who contribute to ensuring ample supply of meat in the country; particularly in view of the supposed plan to increase the price of fodder, reports Al-Anba daily.

Al-Subaie warned that increasing the price of feeds will lead to increase in the prices of basic commodities; such as red meat, poultry, dairy products and eggs. He urged the concerned authorities to provide adequate fodder support; indicating the important demands of livestock breeders include increasing fodder subsidy, reduce prices of fodder, and increase the number of outlets selling subsidized fodder. He stressed the need to expand fodder support to ensure sustainability of the livestock sector and ample meat supply in light of the latest political developments globally like the war between Russia and Ukraine. He added the lack of subsidized fodder for breeders resulted in the black market, which sells feeds subsidized by the State at higher prices.

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