Kuwait fined 350 companies for increasing commodity prices
Monday, August 22, 2016
The Ministry of Commerce and Industry announced on Monday that it had punished 350 companies and commercial stores since the decision to rationalize subsidies for fuel prices was taken by the Government.
In a press release to News Agency, the Commercial Supervision and Consumer Protection Department said the violating companies and stores were penalized for conducting commercial fraud and increasing commodity prices for no reason. Some of the penalties were imposed for expiry of commodities and fraud related to the products' country of origin.
The release added that Assistant Undersecretary for Commercial Supervision and consumer protection department Eid Al-Rashidi said that, under the guidance of the Cabinet, inspectors from commercial supervision were deployed in all areas of Kuwait to monitor any violations in the business sector.
Al-Rashidi affirmed that rationalizing subsidies of fuel prices should not affect the prices of food and consumer goods, urging consumers to call the hotline number 135 when witnessing or experiencing such illegal acts.
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