CPA to keep tabs on commodity prices, rein in vested interests

The Consumer Protection Authority has reviewed the prices of certain commodities and called for the need to monitor the market. It has decided to keep an eye on prices in the coming days to ensure price stability and check the vested interests from exploiting the situation by raising prices without any justification. To ensure price stability, the Authority has also decided to strengthen the mechanism to monitor the markets in the Sultanate. At a virtual meeting with the directors general in the governorates and department directors, Salim bin Ali al Hakmani, Chairman of the Consumer Protection Authority (CPA), reiterated the Authority’s resolve to provide a safe and secure consumer environment in the Sultanate. He called for a follow-up action on efforts made by the Authority’s staff in various governorates. During the meeting, Al Hakmani praised the efforts being made by the CPA staff in various directorates and departments distributed in the governorates which are entrusted with the task of monitoring the markets. He called for the need to tighten control over prices in coming days to ensure price stability and check the vested interests from exploiting the situation by raising prices without any justification. Al Hakmani also exhorted the CPA officials to strengthen cooperation and coordination with other authorities, especially those related to the markets and the consumers so that there is harmony in performance to serve the public interest in a better way. He sought to achieve even better coordination between entities that deal with the interests of the consumers. The meeting also reviewed the authority’s efforts to keep track of the prices of certain commodities which were raised in the recent past. “After extensive study, we found that rise in prices of certain commodities necessitated by global market forces and commodity indicators in addition to the markets of neighbouring countries.” The Authority said to have held a series of meetings with suppliers, during which it urged them to take into account the consumers when raising prices, and they need to lower the prices locally when prices of commodities in question decline globally. The Authority will start implementing its monitoring campaigns to ensure the implementation of policies related to global price indicators. The CPA chairman stressed the importance of exerting more effort to serve the country and the citizens and follow up the markets first. He directed the suppliers to abide by the laws and decisions issued by the Authority.