Saudi Trade: 7 thousand violations were seized, 52% of which are exaggerated prices

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Riyadh – Mubasher: The Saudi Ministry of Commerce revealed that more than 7,000 violations were seized on some commercial sales outlets within 23 days.

The ministry said, in a statement, that 52% of the violations were overstated by 3.57 thousand violations during the period from March 23 to April 14.

And trade added, that supervisory teams issued immediate fines to violators.

Fines for the excessive prices of fruits and vegetables topped by 46%, followed by the excessive prices of masks and sterilizers by 16%, followed by the overpricing of eggs by 13%, while the rest was distributed among multiple products.

The ministry indicated that during the same period, it implemented more than 70,000 control rounds on food outlets, wholesale markets, and retail markets in all regions of the Kingdom to ensure the availability of basic and consumer goods, monitor their prices and analyze them, compare them to prices in neighboring countries, and control any intended exaggeration Unjustified in prices and the application of statutory penalties for violators.

Trade stressed that raising unjustified prices and monopoly or drying out markets with the aim of raising prices or exploiting temporary repercussions or global events or exceptional data in order to carry out fabricated practices that create an incorrect and misleading impression that suggests an unrealistic deficit about goods or services in order to control prices is a violation of the Ministry’s regulations Trade and the General Authority for Competition.

And she stressed that she offers those who practice these actions and those who collaborate with them to the most severe penalties stipulated in the regulations, and it includes a fine equivalent to 10% of the annual sales value in violation, or exceeding 10 million riyals when it is impossible to estimate the annual returns, or a fine that does not exceed 3 times that of The gains achieved by the violator as a result of the violation, in addition to defamation in a local newspaper, the closure of the facility and the cancellation of the commercial registry.

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