The Ministry of Trade confirmed today, Saturday, that the increases being witnessed in the prices of some goods and food and consumer materials under the pretext of rising dollar exchange rates are unjustified in many cases, especially with regard to local products and previously imported stocks.
Adviser to the ministry, Muhammad Hanoon, stated in a statement received by the Fadyo News Agency that the ministry is monitoring price movements in local markets and tracking the increases affecting some food and consumer materials, including local products that are not directly linked to imports or exchange rate fluctuations.
He explained that the rise in the dollar does not automatically justify an increase in the prices of all goods, especially local products and previously imported goods at lower exchange rates, warning against exploiting economic changes to achieve additional profits at the expense of citizens.
He added that regulatory bodies, in coordination with the relevant sectoral and security authorities, continue to monitor markets and track instances of excessive pricing, price manipulation, and monopolization, as well as verifying the extent to which increases are related to the actual costs of production, importation, transportation, and distribution.
He pointed out that the ministry is working to intensify inspection tours, follow up on citizens' complaints, take legal action against violators, and refer cases of fraud, monopolization, and illegal commercial practices to the relevant authorities.
Hanoon emphasized that market freedom does not mean exploiting consumers, affirming the ministry's commitment to enhancing the supply of essential goods and supporting market stability to protect citizens' purchasing power.
He concluded by affirming that the ministry will not tolerate price manipulators and that the rise in the dollar exchange rate will not be an excuse to impose price increases without real economic justifications.