The UAE government has announced strict measures to curb unfair price hikes during Ramadan in Dubai. Retailers found increasing prices of essential goods during the holy month will face heavy fines, emphasizing consumer protection and market fairness.
Key Aspects of the New Pricing Policy
- Fine Amount: Up to Dh100,000 for retailers increasing prices unjustifiably.
- Effective Date: January 2025.
- Targeted Goods: Nine essential items identified by the government.
- Consumer Rights: Ability to file complaints against unjustified price hikes.
Government’s Commitment
The Ministry has highlighted the following objectives:
- Maintaining price stability during Ramadan.
- Ensuring fair market practices, especially when demand surges in the holy month.
- Protecting consumers against exploitation.
- Promoting overall economic stability in the UAE.
Looking Ahead
Authorities in Dubai continue to monitor retail pricing closely. Businesses are strongly advised to comply with the new regulations to avoid facing severe penalties. These proactive steps aim to keep essential items affordable for both residents and visitors during the festive Ramadan season.
For further updates, stay tuned to Questiqa World News.
About The Author
