Ajman Economy tightens controls on adjusting basic commodity prices with prior notification and documented justifications

The Department of Economic Development in Ajman issued a circular addressed to all economic establishments, suppliers, wholesalers and retailers in the emirate, stipulating the necessity of submitting prior notification to the Ministry of Economy and Tourism, supported by documented economic justifications, before making any adjustment to the prices of basic commodities in the local market.

This circular comes within the framework of ongoing efforts to enhance market stability, protect consumer rights, and establish the principles of transparency and economic control, in addition to supporting integration with the private sector in a way that contributes to achieving balance and sustainability in the commercial environment in the emirate.

The department confirmed that this procedure is based on the legislation in force in the UAE, and aims to follow up on economic changes in the local market, and to ensure that there are clear and transparent justifications for any price changes that may occur in basic commodities.

She explained that all merchants, suppliers, distributors and sales outlets, whether individuals, institutions or companies, must commit to submitting notifications through the electronic channels approved by the Ministry, before implementing any price adjustment on the included goods.

In this context, the department indicated that the list of basic commodities subject to this regulation has been determined to include (29) strategic commodities that affect the daily needs of consumers.