New public company to import commodities

The committee met yesterday to explore mechanisms which allow consmuer cooperative societies to face manipulation of some commodities whose prices went up recently between 25 to 30 per cent, adding additional burden on the consumer.

The committee, which composed of members from the cooperative societies, the department, Abu Dhabi Investment Company and Abu Dhabi Foodstuff Company, discussed a number of proposals on how to deal with the suppliers who are insisting on increasing prices without taking into account the suffering of the low and medium income categories.

The committee urged the government concerned authorities to support the new non-proift company to deliver its mission properly.

Cooperative sources in Abu Dhabi informed the committee that some retailers and hypermarkets had bowed to pressure from suppliers to raise prices of essential items between 25 to 30 per cent — an increase which was refused by cooperative societies.

Cooperative societies have reached an agreement not to subject to pressure from suppliers.

The sources affirmed that the battle against suppliers would only be won through raising public awareness and willingness of the consumers to buy the available alternatives.