“Economy” determines the controls for submitting requests for basic commodity prices

The Ministry of Economy has made it possible for producing and supplied companies to serve requests for price raising for basic commodities, in accordance with the Cabinet Resolution (No. 120) of 2022, regarding the rules and controls of pricing consumer goods in the country, to be analyzed and decision -making regarding them, then informing companies of the final response.

The Ministry confirmed that there are no fees for providing this available service throughout the day, explaining that submitting requests for raising the prices of basic consumer goods is limited to eggs, poultry, cooking oils, sugar, dairy, legumes, bread, wheat and rice.

She added that price requests can be submitted every six months from the date of last approval.

The Ministry stressed that the expected time period for the completion of the service is 15 working days, pointing out that the service channels are the website of the Ministry and its smart application, while the target audience is all companies.

She explained that there are six documents that the facility is required to submit to the Ministry before considering the request for price raising, including filling the price file form at the current and new prices, the percentage of the required increase, in addition to the prices of the previous three years, as well as production costs for the previous three years, and the budget of the establishment for the previous three years In addition to the prices of similar alternative goods in the country and the Gulf Cooperation Council countries, as well as the justifications provided by the facility to increase prices for the last time the prices of the establishment of the establishment were modified.

The Ministry indicated that the steps and procedures that the company must take, is to choose the service from the list of electronic services, then log in using the digital identity, and then fill the request data and attach the required documents, provided that the ministry will ensure the authenticity of the data entered and the attached documents, and send a message to the customer To fulfill the deficiencies (if any), noting that the request is accepted or rejected with sending a letter to the customer through the registered email.

The Ministry of Economy has recently announced the application of new policies to pricing basic consumer goods from January 2025, which included basic commodities: cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread and wheat, and also includes some of the associated sub -commodities, in addition to detergent prices Home, so that their prices can only be increased with prior approval by the ministry, while the rest of the commodities and products are subject to the rules of competition in supply and demand and market mechanisms.

The decision included provisions that prevent price increase except with prior approval from the Ministry of Economy and monitoring price movement in coordination between the Ministry and economic development departments and the competent authorities.