The UAE government has introduced a new pricing policy aimed at curbing price hikes on essential goods during Ramadan. Effective from January 2025, retailers who increase prices on nine specified essential items will face fines of up to Dh100,000.
Key Features of the New Law
- Fines: Retailers can be fined up to Dh100,000 for unjustified price increases during Ramadan.
- Essential Items: Nine essential food and household goods are specifically protected under this policy.
- Consumer Rights: Consumers will be able to file complaints about unfair price surges.
- Market Monitoring: Authorities will monitor markets closely to ensure compliance with the law.
Purpose and Impact
This regulation is part of broader efforts to maintain market stability and protect shoppers during one of the UAE’s most significant spending periods. It addresses concerns that some retailers exploit increased demand to charge unfair prices, especially on vital goods.
The government’s decisive action underscores its commitment to consumer protection and promotes fair trade practices. Families will benefit from being able to purchase essential items without facing excessive costs during Ramadan.
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