President of the Federation of Consumer Cooperative Societies, Abdel Wahhab Al-Faris, has unveiled the launch of a comprehensive website featuring over 139,000 authorized products available in cooperative societies.
This initiative, according to Al-Anba daily, aims to provide access to accurate pricing information for various items within these societies.
Al-Faris elucidated that the website empowers anyone to review the products within cooperative societies, and individuals who come across discrepancies between displayed and authorized items are encouraged to report these to the Consumer Protection Department.
Al-Faris emphasized the Federation’s commitment to combating elevated prices and unwarranted price hikes in cooperative settings. The objective is to safeguard the middle and working classes while bolstering their purchasing capabilities.
He clarified that the intention isn’t to antagonize the merchants, who are ultimately citizens themselves, but rather to prioritize price stability and ensure affordability for all.
He underscored that, in an open economy that’s unable to consistently meet market demands, entities unable to fulfill market requirements should exit the market. This would allow financially sound individuals to step in as suppliers of quality goods at appropriate prices.
He emphasized that the Federation won’t endorse price hikes until the official inflation rate recedes according to state data. This approach calls for comprehensive and equitable solutions that address citizens’ concerns in conjunction with merchants’ commercial realities.
Al-Faris highlighted that the Federation conducts routine inspections of cooperative societies to monitor any products not approved by the federation.
He urged the coops to abstain from stocking and selling unapproved items unless they are officially integrated into the associations’ and federation’s systems.
Furthermore, the Federation regularly communicates directives to associations, urging adherence to circulars and ministerial resolutions designed to maintain market prices. The initiative also extends to encouraging alternative markets to offer items at union-established prices as part of the effort to combat inflated prices.
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