Qatar government to crackdown on price hikes

Qatar government to crackdown on price hikes
Published: 17 April 2009

Arabian Business reported that Qatar is set to crackdown on the price of essential commodities by introducing tougher rules on distributors.

As per report, under the new regulations planned by the government, distributors will have to seek prior approval from the Ministry of Business and Trade before they revise prices on products including steel and cement.

Mr Sheikh Fahd bin Jassim al-Thani minister of business and trade of Qatar said that “We will set up the mechanism in the near future.”

He said the authority to either sanction or reject the price revision proposal would rest with his ministry.

He added that the government expected inflation to drop by up to three percent this year due to a fall in commodity prices and stability in the housing market.