The Ministry of Commerce and Industry issued a circular regarding obligating owners of commercial, industrial and similar public shops to register the selling prices of goods and services via the Ministry’s website through electronic services, as part of its efforts to develop the business environment and enhance price clarity in the local market.
The Ministry confirmed in a statement today that the circular aims to enable owners of commercial and industrial activities to register and update price data easily and conveniently, through the Ministry’s website, which contributes to building an accurate and updated database for the prices of goods and services at the state level, and supports digital transformation efforts and the development of price follow-up mechanisms in the local market, in a way that enhances the clarity of transactions and maintains the balance between the interests of merchants and consumers.
The Ministry stressed the importance of the accuracy of the data provided during the registration process, based on the provisions of Law No. (12) of 1972 regarding forced pricing and determining profits and its amendments, especially Articles (1), (6), (9) and (10), which regulate the obligations of suppliers in line with the provisions of the law and its executive regulations.
The Ministry also explained that it will continue to coordinate with business owners to facilitate the registration process, and follow up on the implementation of relevant procedures, in a way that enhances market stability and preserves consumers’ rights.