Trade and Planning ministries implement strict regulatory measures and digital tracking

The Ministries of Trade and Planning continue to implement an integrated package of reform and regulatory measures to stabilize food prices in markets and cooperatives, confront attempts at monopoly and speculation, and launch an advanced digital system for electronic tracking of incoming goods and commodities. Trade Ministry advisor Mohammed Hanoun revealed in a press statement that the ministry has prepared a package of economic and reform measures in coordination with relevant authorities to control and stabilize food prices offered in major cooperatives, making them mandatory for all entities. Hanoun explained that the ministry's inspection teams observed during field tours a clear commitment to instructions on reducing food, meat, and table egg prices. He pointed out a significant increase in citizens' turnout to purchase these items from cooperatives to meet their daily needs, noting that these goods were purchased from reliable origins and offered at very suitable prices compared to local markets. Regarding field monitoring and public markets, the ministry advisor clarified that daily tours in the capital and provinces proved a significant decrease in food prices as a result of declining prices in ministry cooperatives over the past days. In a firm stance against market manipulators, Hanoun stressed that deterrent measures will be taken against any merchant attempting to monopolize foodstuffs to increase demand or speculate at the expense of citizens, emphasizing that this behavior is considered an economic crime exposing perpetrators to legal and judicial accountability. At the same time, he noted that commodity prices in markets and shops have become largely under control. He added that an extensive report containing inspection teams' observations will be prepared and submitted to competent authorities for necessary action. In a related path to enhance regulatory systems for incoming goods and protect consumers from non-compliant products, the Planning Ministry prepared a comprehensive plan to enhance electronic tracking for over a thousand registered commodities, alongside plans to open new units for testing gold and precious metals in several provinces. The Head of the Central Organization for Standardization and Quality Control affiliated with the ministry, Dr. Fayyad Al-Dulaimi, explained in a press statement that the goal of the electronic tracking plan is to build an integrated digital regulatory system that keeps pace with rapid developments in e-commerce, allowing precise tracking of goods from the moment they enter the country until they reach the final consumer. Al-Dulaimi stated that the plan will enhance the speed and accuracy of inspection and compliance procedures for a large number of registered commodities excluding medicines and plant and animal production, through more effective control systems in cooperation with the Ministerial Council for Economy, the Supreme Council for Competition and Monopoly Prevention, and relevant security authorities. He confirmed that work continues on adopting certificates of origin and conformity to verify sources of goods and their compliance with technical requirements and approved specifications, with continuous coordination with government and security authorities to monitor violating pages and commercial practices. Regarding precious metals regulation, the head of the organization revealed a program to open new specialized gold testing units in several provinces, aiming to limit the circulation of jewelry not conforming to standards or specifications, stressing that trading violating gold entails strict legal procedures and penalties. He noted that the Interior Ministry has been addressed to activate electronic coordination, enhancing information exchange among relevant authorities and developing mechanisms for monitoring and following up on precious metals.