JEDDAH, 17 November 2004 — Sawa cards are now synonymous with controversy. There has been a shortage during the Eid holidays and this has resulted in a black market. Customers thronged shops to buy a card but they found that though the demand was great, the supply was limited. Sellers took advantage of the situation and sold the card, which is generally available for SR95, at SR100 or even more.
Sawa dealers have complained that they had insufficient stocks to meet the increased demand. Since customers were willing to pay more, this has led to increased prices and a black market.
One expatriate engineer told Arab News that he had paid SR102 for a card. “First the shopkeeper said he did not have a card and then said that he had a few and I would have to pay SR102 for it. I wanted to talk to my family and so had no choice but to pay what he asked.”
A shopkeeper who is charging more than SR95 for Sawa cards justified his action. “Since STC offices are closed for Eid, the distribution of Sawa cards has been affected. We are left with no option but to sell the cards at higher prices. After all, we are in business and this is the peak time to make extra money,” he said.
The shopkeepers say this is not the first time a shortage of Sawa cards has occurred. “It happened last year too. STC failed to do what was needed to meet customers’ demands again this year. The situation will improve only after the Eid holidays when STC reopens,” said a shop owner in Al-Salama district.
In a related development, investigations into the Sawa card share scam continue. More than 1,500 Saudis, paying SR8,500 for what was called Sawa shares, invested a total of nearly SR1.3 billion. The victims of the scam are awaiting the result of the investigations which they hope will see their money returned.
