Crown prince orders moves to contain rising prices

Crown prince orders moves to contain rising prices
Updated 15 May 2012
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Crown prince orders moves to contain rising prices

Crown prince orders moves to contain rising prices

Crown Prince Naif, deputy premier and minister of interior, has issued directives to several authorities to take effective measures to contain price rises and check counterfeit goods flooding the local market.
They have been instructed to constitute committees in all regions of the Kingdom to intensify monitoring of price rises and clamp down on counterfeit and low quality products.
The committees should comprise representatives of the ministries of commerce and industry and municipal and rural affairs, as well as officials from the Saudi Food & Drug Authority (SFDA), according to a report in Al-Madinah Arabic daily.
A source at the Ministry of Commerce said the ministry is currently working out a detailed mechanism that is set to govern all teams involved in this task in coordination with other agencies concerned.
Makkah Gov. Prince Khaled Al-Faisal had earlier presented a proposal to Crown Prince Naif to issue directives to the two ministries and SFDA to coordinate in conducting field inspections of commercial shops with the objective of containing price rises and seize imitation and cheap quality goods from the local market.