The Ministry of Economy and Trade has unveiled new measures to stabilize markets and secure food supplies ahead of the holy month of Ramadan.
Minister Mohamed Al-Huwaij instructed the committee monitoring basic commodity prices to prioritize the importation of essential food items and expedite the opening of letters of credit.
In a high-level meeting, Al-Huwaij stressed the need to maintain the availability of key goods, control price inflation, and protect consumers. The minister also called for increased cooperation with regulatory bodies to prevent monopolies and price speculation.
Authorities agreed to hold talks with suppliers and local distributors to ensure that products remain affordable. Additionally, the ministry will coordinate with other agencies to streamline the entry of goods into the market, while field teams will inspect factories and trading companies to monitor compliance.
Regulatory bodies have been tasked with establishing a framework to enforce these measures, ensuring continuous market oversight to prevent price hikes and hoarding during the Ramadan season.
