Tuesday, 22 May 2018 04:30 GMT

Kuwait- PAAFR to penalize monopolistic practices

(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, March 19 (KUNA) -- Legal action will be taken against companies seeking to establish a monopoly over the market, the Public Authority for Agriculture Affairs & Fish Resources (PAAFR) announced on Sunday.

In a statement obtained by KUNA, PAAFR noted that such maneuvers are illicit and prohibited by law, referring to tactics in which some companies dupe consumers into purchasing food commodities at inflated prices.

Moreover, the statement added that the government will do everything in its power to ensure that citizens get access to pantry staples at affordable prices.

On some forms of chicanery practiced by companies, the statement underscored that certain firms have begun to cease importing certain goods in efforts to create a monopoly, a measure the statement slammed as completely illegal and a threat to national food security.

Meanwhile, the statement urged all food companies to work closely with PAAFR in efforts to eliminate any impediments and barriers to agricultural growth.

According to official statistics, around 1.5 million sheep are imported annually by some 30 companies, while PAAFR raises around 450,000 cattle to buoy food security. (end) mf.nam


Kuwait- PAAFR to penalize monopolistic practices

  Most popular stories  

Day | Week | Month