Regulators are required to intervene immediately.
Dr. Ayman Mohseb, a member of the House of Representatives, submitted a briefing request addressed to the Minister of Supply regarding the transfer of the over-price phenomenon to the electrical appliances market and some imported commodities, which caused an unjustified increase in prices.
Mohseb said, in his request, that the last period witnessed the transfer of the “overprice” phenomenon to the electrical appliances market and some imported goods, which caused an unjustified increase in prices, which was confirmed by the Electrical Appliances Division, explaining that the phenomenon of “overprice” means the application of An unofficial increase in the price of goods, decided by distributors in return for selling, to deliver the goods to the customer immediately instead of waiting in agent lists for months before receiving when buying from the agent at official prices.
The member of the House of Representatives referred to the spread of the phenomenon of overprices in the car market on a large scale, which also caused an unprecedented increase in car prices, exceeding the fair price of the commodity, as the price of medium and economical cars reached 700 thousand pounds, and the citizen could no longer tolerate more. And the state apparatus should not leave it prey to the greed and greed of merchants and distributors, which requires rapid intervention from the state to confront these practices that the simple citizen pays for.
Mohaseb called on the concerned authorities to clarify the reality of the decline in the supply of electrical appliances due to the disruption of supply chains and the unavailability of production requirements, pointing out that there is a rise in prices due to the high cost of production and raw materials, and the citizen is well aware of that, but we do not accept that there is price manipulation outside formal framework.
Representative Ayman Mohseb asked about the role of the Ministry of Supply and the Consumer Protection Agency in monitoring the markets, and why the law does not apply to those monopolistic practices that cause market chaos and burden the citizen with additional burdens in light of difficult economic conditions? He stressed the need to tighten control over the electrical appliances market. Firm enforcement of the law against those who try to monopolize goods to sell them outside the official framework and force the citizen to pay the highest price, in addition to launching awareness campaigns for citizens on how to report these practices, to confront them firmly and rigorously.