Minister of Commerce and Industry Dr. Yusuf Al-Ali has issued a decree freezing the prices of commodities, services and craft works.
In a press conference held Sunday to unveil the decree, minister Al-Ali stressed that immediate legal actions would be taken against the decree violators.
He added that the decree is one of a series of decisions and measures to be taken in the coming period by the Ministry to counter unjustifiable price rises.
Al-Ali clarified that expected rise of fuel and electricity prices would have no impact on the prices of basic commodities. Any surge in basic commodity prices would be considered unjustifiable, he laid it bare.
He noted that Law No. 10 of 1979 does not allow price increases without prior approval from the Ministry of Commerce and Industry.
The minister unveiled that a special panel was formed to monitor prices of commodities and services on market with a view to protecting consumers. He stated that the ministry has a record of every single commodity and services on the local market at the start of 2016.
Al-Ali said that the ministry would increase the number of commercial inspectors who has powers of law enforcement to boost campaigns in different commercial outlets.
He urged public to shoulder their responsibility in countering greedy traders through contacting hotline No. (135) to report any commercial fraudulence or compliant.
Al-Ali, however, pointed out that the Ministry could approval price rise of any commodity, if the trader presented to the authorities evidence that the importation price of the commodity has soared.
Commenting on the inflation rates in Kuwait, minister Al-Ali underlined that inflation in Kuwait is reasonable and under control.