AS THE RUSSIA-UKRAINE SITUATION RAGES, PRICE INCREASES ARE UNAVOIDABLE

  • 17/03/2022

Kuwait City: In the middle of the economic ramifications of the Russian-Ukrainian war, Minister of Commerce Fahd Al-Shuria'an acknowledged that price increases are unavoidable and that the government cannot guarantee that they will not affect citizens. Dr. Khaled Al-Saeed, speaking on the sidelines of the inauguration of the first manufacturing unit for 26 pharmaceutical products in Sabhan, owned by Abbott Laboratories International, in Kuwait, said, "This is a global trend," and added that the current situation in the world is dangerous, and "some of the goods that come to us may find their way to other regions."


He forewarned of a terrible period "if we do not prepare ourselves." We're not talking about excessive pricing right now, but the key thing is to receive things, and the government always pays the price differences." In response to another question, Al- Shariaan stated, "not touching the pocket of the citizen is our motto always, but I cannot say categorically that it will not be touched, and we must unite to solve the next problem," adding, "the government is keen on the welfare of citizens and providing what it is able to, but if we promise something we must remain committed to what we promise, which is why I can't promise anything, but we must be prepared for any eventuality."He stressed there are preparations for the ministry to work around the clock, but “we cannot control something which is not within our capabilities.”

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