PRICE HIKE RUMOURS ON SOCIAL MEDIA WERE DEBUNKED

  • 31/03/2022

Kuwait City: The Criminal Security Sector has dispelled claims propagated on social media about a suspicious increase in the prices of some items, according to the Ministry of Interior's Public Relations and Security Media General Department. This arose after a video footage of a contractor discussing the purported price raise went viral on numerous social media platforms. The department confirmed that the appropriate legal action had been taken. In addition, a legal source said the contractor was being investigated for violating Law No. 10/1970 on the monitoring of all commodities trading and price setting. He emphasised that individuals who raise prices without justification face the following penalties: imprisonment and a fine. 


According to the source, the contractor broke Article Two of the aforementioned regulation, which specifies that "it is banned to generate artificial price spikes, and one way to do so is publicising false news in this respect." Meanwhile, Chairman of the Kuwait Society for Consumer Protection Khaled Al-Subaie has urged concerned authorities to solve the difficulties of cattle breeders who contribute to the country's sufficient meat supply, particularly in light of a rumoured intention to raise the price of feed. 

Al-Subaie cautioned that raising feed prices would result in higher pricing for basic foods including red meat, poultry, dairy products, and eggs. He asked the competent authorities to give enough fodder support, citing livestock producers' top demands as boosting fodder subsidies, lowering fodder prices, and expanding the number of outlets selling subsidised fodder. In view of recent political changes throughout the world, such as the war between Russia and Ukraine, he emphasised the importance of expanding fodder assistance to preserve the cattle sector's sustainability and abundant meat supply. He went on to say that the lack of subsidised fodder for breeders led to the black market, where feeds subsidised by the government are sold at higher costs.

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