Commerce Launches the Price Monitoring System
The Ministry of Commerce and Industry announced the official launch of the Price Monitoring System via the official website of the Ministry of Commerce and Industry.
The Ministry affirmed that the system primarily aims to serve consumers and facilitate shopping, as consumers can now access the system to check the prices of basic foodstuffs at cooperative societies, central markets and food retail centers before leaving home and without needing to move from one market to another. They can also compare the actual prices of food items displayed in the markets with the prices shown in the system, which are entered and updated by the cooperative societies and continuously monitored and audited by the Ministry of Commerce in light of global influences on prices and the effect of supply and demand, and to prevent artificial price increases.
The Ministry stated that the Price Monitoring System will facilitate the work of Ministry of Commerce inspectors, as it will assist them in monitoring and controlling prices and detecting violations of artificial price increases, which serves the interest of the consumer. The system will also help merchants set the prices of goods and adhere to them, which will have a positive effect on regulating the sale and purchase of foodstuffs in general.
The Ministry added that the Price Monitoring System will be continuously updated to display new items and services and to add seasonal foodstuffs, and that the system was developed and launched through diligent efforts and cooperation between the Ministry of Commerce and Industry, the Union of Cooperative Societies and private central markets. www.moci.gov.kw
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