The Customs Authority warns of rising building-material prices
The ministry’s representative stressed that the new rules aim at transparency in the supply chain rather than at fixing prices, and that breaches will go to the Consumer Protection Agency.
He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
How the decision came about
Chamber figures put the number of registered businesses at 41,000, up by 3,400 on last year, most of them in retail and logistics.
Every day of delay in customs release costs an importer more than any tax cut saves him.
Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
The Chamber’s view
- localising household-goods manufacturing among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
The division head said the meeting examined the direct effect of the decision on supply inside the local market, and that the Chamber submitted a detailed memorandum carrying traders’ proposals on the timetable.
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م. سامر عبد الرحمن