The head of the Union of Cooperative Societies, Abdel Wahhab Mashari Al-Faris, emphasized the importance of not raising the prices of goods in cooperative societies, Al-Qabas reported. The official stressed in a press statement their commitment to the directives of the Ministers of Affairs and Trade and the decision of the Ministry of Commerce to prohibit price increases. He further noted that any association that violates these ministerial decisions will face legal accountability for their decision-makers.
Al-Faris clarified that they have rejected proposals to raise prices for 45 items and have refused to introduce 245 new items due to their higher prices compared to the current market rates. He said that the ongoing media campaign on social networking sites is incorrect, pointing out that the union will not support the price increase unless the ban is lifted by the Ministry of Commerce, the Ministry of Affairs agrees, and inflation rates decrease based on data approved by the Central Bank of Kuwait.
In addition, a price committee was formed in the federation to review 315 requests and examine 1,350 items from 30 May 2023, until now.
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