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New mechanism for Co-ops
May 19, 2015, 5:04 pm

Ali Hassan, Chairman of the Kuwait Union of Consumer Cooperative Societies announced the completion of a new mechanism which will help moderate price differences between co-ops and wholesale markets by allowing co-ops to purchase fruits and vegetables directly from merchants.

He added that in a memo submitted to the Ministry of Social Affairs and Labor after several meetings and workshops, authority has been given to co-ops to purchase class A and B quality goods. Also, a mandate has been placed on each co-op to display prices of the aforementioned products as per the Ministry of Commerce’s list with an allowance of maximum 15 percent addition to these prices, 5 percent for expenses and 10 percent for profit.

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