UAE To Enhance Consumer Protections With Stricter Pricing Regulations During Ramadan 2024

The Ministry of Economy in the UAE has unveiled a comprehensive strategy aimed at bolstering the oversight of product and service pricing throughout the Holy Month of Ramadan. This initiative is designed to safeguard consumer rights by ensuring the enforcement of consumer protection laws and raising awareness about consumer responsibilities. Abdullah Sultan Al Fan Al Shamsi, the Assistant Under-Secretary for the Monitoring and Follow Up Sector at the Ministry of Economy, underscored the government's dedication to fostering a secure and beneficial environment for consumers.

In preparation for Ramadan, the ministry has engaged in discussions with suppliers of essential goods to guarantee their availability. Al Shamsi pointed out that the UAE enforces policies to maintain a strategic reserve of vital goods, prohibiting price hikes without prior authorization. The introduction of Federal Decree Law No. 5 of 2023 has notably reinforced consumer rights and regulations.

During the holy month, numerous cooperatives and outlets are set to provide discounts on a variety of goods, with sales rates expected to range between 25% and 75%. Al Shamsi announced several new measures aimed at enhancing consumer protection. These include the formation of a national team dedicated to monitoring the prices of essential commodities, the introduction of a code of conduct for outlets and suppliers, and the execution of market inspection tours.

In 2023 alone, nearly 96,200 inspection tours were conducted by the ministry, uncovering 6,645 violations. Al Shamsi emphasized the power consumers hold in influencing market prices and trends through their purchasing choices. He encouraged consumers to report any violations and file complaints to safeguard their rights.

The initiatives undertaken by the Ministry of Economy are part of a broader effort to improve the consumer protection landscape in the UAE. These measures not only aim to protect consumers but also contribute to enhancing the country's competitiveness and economic standing.

With inputs from WAM