UAE strictly monitors illegal price increases of commodities

UAE strictly monitors illegal price increases of commodities

UAE government strictly monitors illegal price increases through its legislative framework that permits authorities to act and safeguard consumer rights from exploitation and greed. The Minister of Economy, Abdullah bin Touq Al Marri, explained that the Consumer Protection Law grants the minister the authority to intervene with the product prices. Al Marri said that the law aims "to protect consumers, especially in cases of emergency crisis, by setting the prices of any product according to economic and profitable determinants that serve the consumer and ensure no loss made by the trader or service provider." The minister added that the UAE consistently controlled the prices of more than 200 items for the past nine months, following international standards. BKM/ Expat Media

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