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The Ministry of Economy Receives Price Increase Requests for Consumer Goods

The Ministry of Economy provides companies with channels through which they may submit price increase requests relating to consumer goods. The Ministry receives the requests, analyses the same and takes appropriate procedures and decisions in their regard, and notifies the companies of its final response. A company that presents the MoE with a price increase request must submit a report indicating the current prices, price lists of the previous three years, the prices of alternative goods, a report on production costs for the previous three years and the company’s budget for the last three years. The company must also indicate the required price increase, compared to neighbouring GCC states.