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Cooperative societies ‘warn’ of a wave of catastrophic price hikes
November 28, 2016, 8:23 am
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The Union of Consumer Cooperative Societies and officials of cooperative societies warned of “an upcoming wave of catastrophic price hike” which will affect the prices of all commodities and foodstuff in the first quarter of the year 2017.

They affirmed about the implementation of new price regulations on rents for state properties and real estates, as well as charges of services and costs of electricity and water usage.

These new price regulations will spark series of price hikes on consumer goods in order to compensate the loss that the cooperative societies and supermarkets will incur due to increase in rents, market costs and charges of storage facilities.

Source: Arab Times

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