Dubai: The UAE Cabinet has introduced a new pricing policy for basic consumer goods in the country. As per the new rule, retailers will not be allowed to hike the prices of nine basic commodities without approval from the Ministry of Economy.
The products include cooking oils, eggs, dairy, rice, sugar, poultry, legumes, bread and wheat. The ministry informed that this list is a preliminary one and more basic consumer goods will be added in the list later.
Earlier this year, the Ministry of Economy had approved a policy to keep price hikes of basic food items in check. As per the policy, suppliers will have to submit evidence to justify price increases of some of the most sought-after items such as fresh and dry milk, fresh chicken and eggs, bread, flour, sugar, salt, rice and legumes, cooking oil, mineral water and others.