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Firms violating price label rules will be fined up to SR100000
(MENAFN- Arab News) JEDDAH: The Ministry of Commerce and Industry will begin next Tuesday to check whether companies are complying with new laws requiring them to place proper price labels on all their products.
It is mandatory for companies to stop using phrases such as 'Prices starting from ...' There are fines of up to SR100000 for each time this phrase is used a ministry source was quoted as saying in a local publication recently.
Shops must include the actual price limits on signs with phrasing such as 'Prices are from ... to ' Companies face fines of SR5000 each time a product is not properly labeled with a price. These should be written in English and Arabic and accurately reflect the price in both languages.
The ministry's move comes in response to several complaints and reports received from citizens and expatriates about price violations and manipulative tactics used by stores to lure customers.
These include advertising prices that are lower than the actual price of the product using signs that read 'Prices start from' or advertisements of vehicles with higher specifications that do not match the advertised price.
The source said the week leading up to the start of the inspections provides an opportunity for stores and commercial centers to correct all signs and price information to avoid penalties.
According to the source the ministry has previously penalized several companies for various types of price violations. Customers would be able to report any violations he said.
It is mandatory for companies to stop using phrases such as 'Prices starting from ...' There are fines of up to SR100000 for each time this phrase is used a ministry source was quoted as saying in a local publication recently.
Shops must include the actual price limits on signs with phrasing such as 'Prices are from ... to ' Companies face fines of SR5000 each time a product is not properly labeled with a price. These should be written in English and Arabic and accurately reflect the price in both languages.
The ministry's move comes in response to several complaints and reports received from citizens and expatriates about price violations and manipulative tactics used by stores to lure customers.
These include advertising prices that are lower than the actual price of the product using signs that read 'Prices start from' or advertisements of vehicles with higher specifications that do not match the advertised price.
The source said the week leading up to the start of the inspections provides an opportunity for stores and commercial centers to correct all signs and price information to avoid penalties.
According to the source the ministry has previously penalized several companies for various types of price violations. Customers would be able to report any violations he said.
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