"3 Falcons" Win Title of Most Beautiful Falcon at King Abdulaziz Falconry Festival    Prince Khalid Al-Faisal Participates in Opening Ceremony of WYF in Sharm El-Sheikh    Russian "Medvedev" Is Champion of 1st Edition of Al-Dira'ayah Tennis Cup    Chinese Visitor: Arab Reliance on Falcons Is Experience and Habit of Early Chinese    Earthquake Hits South of Chinese Xinjiang    Malaysian Ambassador Tours King Abdulaziz Falconry Festival    Statistics Authority Participates in the 5th Meeting of the Int'l Comparison Program Board, in Washington    Gomez Leads Riyadh-based Al-Hilal to FIFA Club World Cup Semi-Finals 2019    Salah strikes twice as Liverpool sink struggling Watford    Pakistani PM Arrives, in Riyadh    U.S. Department of State Warns Iranian Regime    Saudi-American Team Develop E-Units for the 5G Technologies, Sensors    Governor of SAMA Inaugurates Middle East Investment Conference    Al-Diriyah Makes History with the First International Tennis Stroke in Saudi Arabia    Saudi Ambassador to Spain opens an exhibition by Saudi artist and calligrapher Nasser Al Salem    SAMA Presents the Draft of "Licensing Rules For Activities in Support of the Financing Activity" to Request Public Comments    Saudi Press: Saudi Aramco's IPO is Important Events in History of Global Economy    Saudi Film "Last Visit" Wins Jury Award at Marrakech International Film Festival    Successful Artificial Heart Transplant Surgery, done at King Abdullah Complex, in Jeddah    MOH: 40% Improvement in Services of Cancer Care Facilities    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    Custodian of Two Holy Mosques addresses the Saudi people and Islamic nation on the blessed Eid Al-Fitr    Newcastle Beat West Ham 3-0 for their first Win of the Season    Mourinho insists Ibrahimovic must be good enough for Manchester United    Reforms have saved the economy from possible recession, say analysts    The King and Crown Prince congratulates Moldova's President    More than 1,5 million pilgrims arrive in Saudi Arabia, so far    MWL allocates SR 7 million for Eid sacrifice project in 47 countries    Saudi Campaign provides educational and training services for Syrians in Al-Za'tari camp    Saudi student goes missing in Kentucky, US    Harvey lashes Texas US coast with high wind, torrential rain    North Korea tests short-range missiles as South Korea, US conduct drills    Samsung leader Jay Y. Lee given five-year jail sentence for bribery    Known days    "MODON" Signs MoU with Chinese Goldwind Company for wind-turbines manufacturing in the Kingdom    Flyadeal, Saudi Arabia's new low-cost airline, scheduled to launch on September 23, reports    Mastercard launches Masterpass in the Kingdom of Saudi Arabia    Honda among 27 Japan players named for World Cup qualifiers    Joker, Harley Quinn movie in works with 'Crazy Stupid Love' filmmakers    Madhuri Dixit to venture into Marathi films as a producer    Consumers warned against using some brands of face powder, hair products    How 'GOT' makers made the frozen lake in 'Beyond the Wall'    Shraddha Kapoor wants people to help the needy    Neymar targets improvement after phenomenal home debut    Politicizing the pilgrimage    Rakhi 2017: "Bond of Love" between a brother and his sister    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Price monitoring ineffective, say consumers
Published in The Saudi Gazette on 11 - 02 - 2013

Saleh Al-Zahrani
Okaz/Saudi Gazette
JEDDAH — Economists and consumers said they have not noticed any improvement in prices following the monitoring of markets and restaurants.
The Ministry of Commerce recently employed 500 market supervisors to monitor prices, and seize counterfeit products. However, this has not improved the situation. Some shops still trade in counterfeit products and near-expiry products.
Prices of goods are continuing to rise despite an actual decrease by the manufacturer.
Dr. Habeebullah Al-Turkistani, an economist, said despite the Commerce Ministry's assertion that it will combat unqualified increases in prices, the market supervisors do not have the authority to deal with the phenomenon.
He said profit margins for auto spare parts range from 200 to 400 percent, 100 percent markup for poultry, and more than 150 percent for meat.
He pointed out that the ministry sometimes justifies its lack of intervention to the free market conditions. However, its role should be to monitor, supervise and intervene as the case may require.
He called upon the municipalities to investigate the complaints by the public directed to their supervisors. They are accused of accepting monthly payments as bribes to overlook any violations.
Abdulrahman Al-Qarni, another economist, concurs that there is a need for more than 2,000 supervisors to effectively monitor the market.
He said the Ministry of Commerce has a huge budget, but it still complains of a lack of supervisors.
He also called for awareness campaigns to educate consumers of their rights, and believes that the current penalties are not enough to deter manipulators. He also emphasized the role of the customs authorities in limiting the imports of counterfeit products.

Clic here to read the story from its source.