(MENAFN- The Peninsula) Sanaullah Ataullah |
The Peninsula
To encourage healthy competitions, the Ministry of Commerce and Industry's Consumer Protection Department has urged consumers to compare prices of commodities at outlets before heading for shopping.
Assistant Undersecretary for Consumer Affairs at Ministry of Commerce and Industry (MoCI), Sheikh Jassim bin Jabor Al Thani said that differences in prices from one outlet to another is a natural thing.
Speaking to Qatar TV yesterday, he said:“The prices of commodities are different from one outlet to another. If the prices of commodities are same at all outlets it could be a type of monopoly.”
In this case, he said, there might be an agreement among traders to sell on higher prices which is called horizontal price-fixing agreements.
“The role of the consumers is to compare the prices of commodities and visit those outlets which offer commodities at lower prices,” said Sheikh Jassim.
He said that now the commercial outlets with different brands are available across the country which could be accessed through online apps.
“Costs of commodities and imports are different from one supplier to another which is a healthy sign. The logistic capacity also plays a role in the cost of commodities. All outlets are doing their best to attract the customers by offering promotions.”
He urged consumers to compare the prices and go to the outlets offering lower prices playing their roles in the country's efforts for encouraging healthy competition to reduce the prices and increase the quality of products.“Qatar is keen to provide commodities at reasonable prices and mitigate the impact of global situation by taking necessary measures and supporting merchants so the consumers can afford them,” said Sheikh Jassim.
He said that reasons behind the rise or fall in prices today are economic growth and the supply and demand.
“The more there is economic growth and prosperity and rise in people's incomes, the more is the spending increase hence consumption also increases and thus the demand exceeds the supply,” said Sheikh Jassim.
He said that geopolitical situations such as the ongoing Russia-Ukraine war has affected the prices of commodities being exported by these countries such as oil, wheat and minerals, noting that supply and supply chains from shipping, transport and storage also affect commodity prices.
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