Union Coop Provides Initiative to Reduce Prices
Associations and Centers Offers Initiatives to Reduce Prices during September Sales Outlets Comply with Prices and the (Economy) Monitors
The Ministry of Economy and major outlets in the State agreed yesterday not to increase the price of any commodity in the coming period after the application of new rates for fuel. A number of outlets revealed that they are going to provide large discounts and reductions on prices of hundreds of commodities during the month of September.
The Ministry of Economy held lengthy meeting with major outlets in the State yesterday morning in the General Office of the Ministry in Dubai headed by Engineer Mohamed Ahmed Bin Abdel Aziz Al-Shehy, the Undersectrary of the Ministry of Economy and Economic Affairs.
All major outlets in the State agreed at the meeting not to increase the prices in the coming period and declared their trend to launch initiatives to reduce prices for a number of major consumer goods in the coming few days. In addition, the UNION COOP declared an initiative to allocate an amount of 15 million Dirhams to reduce the prices of 1000 items at all outlets during the month of September.
Mr. Maged Al-shamsy the Head of the UNION COOP indicated that outlets do not accept increasing prices in the coming period, particularly there is no factual justification that necessitates increasing prices, and indicated that there will be a number of initiatives in the coming period to maintain prices at their levels, if not reduced. All these are within the framework of supporting efforts aimed at controlling and balancing markets’ prices.
Mr. Khaled Al-Filasy, the General Manger of the UNION COOP announced the allocation of an amount of 15 Million Dirhams to reduce prices of 1000 major consumer commodities in the coming September as part of initiatives aimed to control markets.