Saudi commerce ministry tightens market control ahead of Citizen’s Account

Saudi Arabia’s Ministry of Commerce and Investment (MOCI) has revealed a market control plan, wherein inspection field visits will be conducted across the Kingdom to ensure that the Citizen’s Account program is not misused, Saudi Press Agency (SPA) reported.

The Saudi Cabinet approved the program on Tuesday, aimed at easing the impact of austerity measures on low and middle-income families.

Cash transfers under the initiative will begin on Dec. 21 and will be disbursed on the tenth day of each month from January.

The commerce ministry will work to ensure product availability and price stability, and take action against unjustified price hikes. It will also ensure that vendors are abiding by the rules and regulations.

MOCI has prepared its complaint center accordingly and increased its staff, along with the number of field inspectors.

In coordination with other government agencies, the ministry has taken all necessary precautions to speed up intervention in case of violations across the Kingdom.

Violators will be sanctioned if they abstain from selling, stockpile goods, refrain from providing invoices, do not comply with official prices of some goods, or do not place price tags on their merchandize.