Cooperative chiefs extol price disclosure platform
KUWAIT: Chiefs of Kuwaiti cooperative societies have welcomed and commended a recently launched price disclosure platform as a significant step in the right direction to reign in surging commodity prices. Newly announced by the Kuwaiti Federation of Cooperative Societies, the platform involving the prices of 139,000 types of commodities, would unquestionably ensure stable commodity price …
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KUWAIT: Chiefs of Kuwaiti cooperative societies have welcomed and commended a recently launched price disclosure platform as a significant step in the right direction to reign in surging commodity prices. Newly announced by the Kuwaiti Federation of Cooperative Societies, the platform involving the prices of 139,000 types of commodities, would unquestionably ensure stable commodity price levels and prop up cooperative-consumer confidence, they said in separate remarks to KUNA.
The federation’s chairman Abdulwahab Al-Fares said his agency is doing its utmost to curb purposefully hiking prices at all cooperatives with a view to protecting middle-income families and buttressing the purchasing power of all governorates. He vowed that the federation is not going to condone any surge in staple prices amid uncontrollably increasing inflation, which, as a matter of course, impacts citizens and merchants alike. Al-Rawda and Hawally Coop Society Chairman Mohammad Al-Kandari spoke highly of the price platform as being a commendable move that mainly aims at maintaining price balance and helping people know genuine prices at all cooperatives.
Cooperatives in general are keen to offer commodities at reasonable prices in order to protect citizens and residents and fend off unjustified price hikes, he added. He noted that all products and commodities in general and rice and sugar in particular are being provided by several companies at competitive prices, thus creating positive competition for the interest of consumers. Al-Kandari pointed out that the State provides citizens with subsidized supply commodities in a step that certainly contributes to ensuring stable prices nationwide.
In addition, price controllers and the Federation of Cooperative Societies always make inspection tours at the market so as to make sure that all available products are approved by the federation and that all cooperatives follow price guidelines. Hateen Cooperative Society Chairman Nawaf Al-Matar voiced the greatest admiration for the federation’s role and effort to control market prices by means of launching a platform involving 139,000 products. He commended the step as a great achievement that would certainly shore up the cooperative sector’s capabilities for offering services to people.
This step obviously reflects the aspiration of the federation and its member cooperatives for digital transformation and modern advancement in the world of trade and marketing, Al-Matar pointed out. He, further, underlined the significance of such initiatives as contributing to developing the cooperative sector and promoting its role in serving the society, saying that the federation plays an impressive role in this regard.
For his part, Jaber Al-Ahmad Cooperative Society Chief Fahad Al-Harran said the price platform would undoubtedly serve the interest of consumers and buyers, citing this as clear-cut proof of the crucial role played by the federation to put price levels under control. The step would make it very easy for citizens and residents to find commodities at reasonable prices, stressing that all cooperative societies nationwide stick to the federation’s price guidelines. – KUNA
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