File photo of a catch of fish at at the Al Wakrah harbour after the fishermen brought them into iced boxes. Salim Matramkot © The Peninsula
The price list of the Ministry of Commerce and Industry has brought prices of local fish down by around 15 percent, according to market players.
The Ministry started issuing mandatory bulletin from Monday to set maximum prices of fish to regulate their sale on daily basis for safeguarding customers’ rights.
“The price of the fish in the mandatory bulletin issued during the past two days is about 10 to 15 percent less compared to the pre-bulletin prices,” an official of a major retailer told The Peninsula.
He said that the profit of retailers was reduced significantly. “Consumers are the main beneficiaries of the bulletin which is being issued to control the prices of local fish,” he added.
The official said that some shopkeepers had started charging exorbitantly on the pretext of shortage of supplies caused by unfavourable weather and a partial ban on king fish catch due to breeding season.
“This is the main reason behind issuing the daily bulletin,” he added.
The prices were issued by the Quantitative Licenses and Market Control Department in Arabic and English. A total of 30 local fish were mentioned in the price list which was issued yesterday. The bulletin also specifies the charges of cleaning fish as QR1 for fish and QR2 for shrimps.
According to price list issued yesterday, a popular fish for citizens and expatriates, king fish (locally known as ‘kanad’) costs QR53 per kg. The maximum prices of Hamour was set QR88 per kg, Shari fish QR27 per kg for big and QR14 per kg for small.
According to the Ministry, the prices will be published daily following an auction that will take place under the supervision of the Ministry. The initiative is aimed at preventing unjustified price increases, cracking down on monopoly practices and ensuring consumers’ right to purchase goods at reasonable prices.
Through the initiative, the Ministry aims to maintain a balance in the relationship between consumers and suppliers or merchants, in order to protect the commercial and economic environment.
Traders shall also refrain from taking any measures or actions aimed at raising the prices of fish under any pretext while committing to providing any additional service in line with the prices outlined in the mandatory bulletin. The MCI stressed that it will intensify its inspection campaigns to ensure the suppliers’ compliance with their obligations and the daily price bulletin.
