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Ministry blamed for price increases |
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Saturday, 06 March 2010 09:51 |
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KUWAIT: A senior Kuwait Union of Cooperative Societies (KUCCS) official has rejected Chamber of Commerce claims that the union is responsible for recent price rises
, blaming what he called the "chaos" at the Ministry of Commerce and Industry (MCI) for the problem.
KUCCS spokesman and chairman of the Nuzha Co-op Riyadh Al-Adsani pointed out that in a statement recently issued by the ministry, it had confirmed that price levels in Kuwait are stable and within the acceptable price index for GCC countries, while also stating that the failure of some co-ops' management boards had contributed to the price increase problems.
Al-Adsani said that he found it strange that the MCI can claim at the same time that prices in the country are stable and that co-ops are the reason behind price increases, adding pointedly that the ministry is the body responsible for monitoring prices.
The KUCCS spokesman said that the ministry had disbanded the previous price committee a couple of years ago before forming another one which had only met five times in two years and had had a negligible influence on reducing prices, reported Al-Qabas.
Al-Adsani said that some of the price increases seen in Kuwait had been extreme compared to those witnessed elsewhere in the Middle East, reaching up to 100 percent for some products. - Kuwait Times
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