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Co-ops queried on hike in rates of commodities
April 19, 2016, 8:43 am

Ministry of Commerce and Industry invited Ministry of Social Affairs and Labor, Kuwait Chamber of Commerce and Industry, Cooperative Societies Union, Kuwait Union of Food Producers for a meeting to discuss the decision of Ministry of Commerce and Industry to freeze the prices of goods and services, reports Al-Qabas daily quoting informed sources.

They said the ministry has asked Cooperative Societies Union for a list of items that were approved for price increase last year and for a report on the reasons behind the price increase. The sources explained that the Cooperative Societies Union has asked to enforce some decisions in the meeting such as:-

â–  Suspending increase in prices until a comprehensive study on the commodities that deserve and does not deserve price increase is completed,

â–  Reducing the prices of the commodities that were raised due to increase in oil prices,

â–  Giving Cooperative Societies Union the authority to approve price increases of 5 percent or less.

The sources added that the Cooperative Societies Union also asked for review of all the requests for prices increases and to send a report to the relevant committee to decide on approving or rejecting these requests. Meanwhile, in an unrelated development, the Finance Department of Ministry of Social Affairs and Labor has decided to disburse excellent performance bonuses to the employees of the ministry in May, reports Aljarida daily quoting informed sources.

They said the relevant committee is reviewing the performance appraisal reports of the employees prior to disbursing bonuses to them. And, the Ministry of Social Affairs and Labor has instructed the Cooperative Societies Union about the importance of obtaining approval of the ministry for any new appointments based on Article 12 of Ministerial Decision 35/2014 concerning activities of cooperative societies.

The ministry stressed the need to send the necessary data of the new recruits to the ministry, including the name, nationality and position of the employee as well as a certificate from the Public Institution for Social Security in case the new recruit is a citizen and the approval of the concerned committee of the cooperative society’s board.

Source: Arab Times

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