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Business / Qatar Business

Government closely monitoring ‘arbitrary price hikes’

Published: 18 Mar 2020 - 08:04 am | Last Updated: 01 Nov 2021 - 08:10 am
Representational image

Representational image

By Mohammad Shoeb | The Peninsula

Doha: Government agencies and concerned authorities, including the inspectors from the Consumer Protection and Combating Commercial Fraud Department at the Ministry of Commerce and Industry, are closely monitoring against any arbitrary pricing (inflation), or monopolistic practices, on the part of some individuals, retailers and suppliers of goods such as food stuff and other essentials like medical products, to ensure that no one is involved in creating an artificial shortage and charging higher prices.

After the outbreak of coronavirus (COVID-19), the government has repeatedly announced that there is no shortage of food and other items in Qatar. It also urged the people to refrain from panic buying and not to pile-up stocks at home. To avoid artificial shortage of essentials in the market, officials have also conducted raids and booked some individuals who were reportedly involved in hoarding and illegally selling some items to make extra bucks, especially those items which are high in demand due to the spread of COVID-19. 

The authorities have been working tirelessly, and reiterating to ensure uninterrupted supplies of food, medicine and other essential items in the market so that everybody can buy as per requirement.

The Government Communication Office of Qatar (GCOQatar) has also launched an awareness campaign through the social media platforms to ensure people about the availability of adequate food stuff in the country as Qatar has achieved self-sufficiency in many food items over the last couple of years, and also maintains a strategic buffer for those items which are sourced from other countries. 

“In line with our National Food Security Strategy 2019-2023, Qatar has successfully diversified import sources and secured a strategic stock to ensure the uninterrupted flow of goods into the country during any crisis or emergency,” read a post on GCO-Qatar’s official twitter handle.

The GCO-Qatar has also posted a short video message highlighting country’s commitment to food security. 

“The State of Qatar owns a strategic stock of food, consumer goods and medical supplies that meet all the needs of its citizens and residents. These supplies are continuously monitored to ensure they are both high-quality and priced correctly, guarding against inflation or monopolistic practices.”