MPs have called for a unified and transparent price database for food and consumer goods.
They want authorities to monitor the prices of goods at Customs when they enter the country and during their sale in the market.
The legislators have also called for “rational profit margins” rather than what they have described as “greedy profits” that doubles the prices of products.
A 12-member national taskforce to follow up on food and consumer goods was set up in April this year under the chairmanship of Industry and Commerce Minister Abdulla bin Adel Fakhro.
It was assigned with preparing a list of basic foods and consumer goods, assess their flow and develop national products and work in partnership with the private sector to monitor their availability in the market.
Also, work should start on linking government and private sector databases for foods and consumer products.
Meanwhile, the Industry and Commerce Ministry yesterday warned traders on its social media accounts against taking advantage of the back-to-school season.
“A reliable merchant does not take advantage by raising prices during the shopping seasons and displaying misleading promotions,” said the ministry in its message.
Parliament’s second deputy speaker Ahmed Qarrata told the GDN that price lists should always be made available to the public.
“The taskforce was formed in April and until today prices are not publicised on the Industry and Commerce Ministry’s website, online or any social media platform,” he said.
“The public is entitled to know the right market price for each product made available for them in the market.
“We are not speaking about 5fils, 10fils or even 50fils – there could be a significant difference from the prices deemed reasonable by the government.”
He added that the government or Parliament had no intentions to interfere in prices which are governed by supply and demand.
“But, there has to be a price range depending on the entry invoices from countries of origin or supply with reasonable profitability but away from any exploitation.”
Parliament’s food security committee chairman Mohammed Al Maarafee told the GDN that shipping and handling costs which were touted a major excuse for increase in prices have stabilised following three years of Covid-19 restrictions.
“So if shipping and handling costs have dropped, why are still prices going up,” he asked.
“We understand that the Ukrainian-Russian conflict is ongoing but that would affect some prices such as wheat or eggs, but not all, as prices keep going up in the market.
“Meals that would have cost BD5 earlier this year now cost double in the same restaurants as the claim is that raw materials are now more expensive.”
He claimed market prices were governed by particular businessmen, who control supply.
“There is no monopoly on paper, but whenever the main international suppliers are approached, they wouldn’t provide the same deals to their agents in Bahrain,” said Mr Al Maarafee.
“Even if traders are given supplies from international dealers, they are told to approach the agent for prices, and the agent determines the tag, forcing others to sell according to their terms.
“Of course, prices wouldn’t go down, they will continue being determined by some businessmen even when there is no real monopoly.”
mohammed@gdnmedia.bh
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