The UAE government has implemented stringent measures to control retail price hikes during the holy month of Ramadan. Authorities have introduced fines of up to Dh100,000 for businesses found guilty of unjustified price increases on essential goods.
Key Points of the Policy
- Retailers must maintain stable prices on critical goods during Ramadan.
- Fines can reach as high as Dh100,000 per violation.
- Strict monitoring and inspections will be carried out throughout the month.
Objective of the Crackdown
The move aims to protect consumers from exploitation and ensure the availability of affordable prices for families during Ramadan, a period of increased spending and consumption.
Enforcement and Compliance
- Authorities will conduct regular price checks in retail outlets.
- Consumers are encouraged to report any suspicious price hikes.
- Violators will face penalties, including heavy fines and potential suspension of business licenses.
This initiative underscores the UAE’s commitment to consumer protection and market fairness, particularly during significant cultural and religious periods.
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