A campaign has been launched by the Ministry of Commerce & Industry to fight price manipulation and fixing. according to an informed source.
The source said that fighting price manipulation is the not same as imposing the unification of prices by the ministry. “Violators will be fined heavily and could sometimes reach SR 100,000,” the source said.
This is part of a series of systematic campaigns that seek to educate consumers about their rights.
This also follows a campaign launched by the ministry last week telling shops and supermarkets to display price tags on the goods. There will be inspection campaigns to monitor compliance and provide education in order to instill market culture, the source said.
The source said that the ministry used all available avenues including social networks like YouTube and Twitter to disseminate educational material and videos in order to familiarize consumers with their rights.
Warning: Price fixers face fines up to SR 100,000
