Price Hikes Are Inevitable, Govt Says
Category: Kuwait

Despite growing concern about the economic consequences of the ongoing Russian-Ukrainian conflict, minister of commerce Fahd Al-Shariaan said price hikes are inevitable, and that the government cannot guarantee that they will not affect individual households.

According to a local Arabic daily, the minister was speaking at the inauguration of Abbott Laboratories International's first manufacturing facility for 26 pharmaceutical products in Kuwait's Sabhan region.

According to Dr. Khaled Al-Saeed, when asked about the possibility of a price increase during the coming period, he responded, "This is a global issue, as international unrest is occurring all over the world, and some of the goods coming to us may end up in other parts of the world."

If we don't prepare ourselves, we might face a difficult stage. At this point, we are not concerned with high prices, and we should be happy to get goods, and the government will always bear the price difference."

A second question found Al-Shariaan saying that the goal of the government is to never touch the pockets of citizens, but there is no guarantee that it won't happen, and we must unite to solve the next problem. Al-Shariaan said the government is keen on providing good services for citizens, but if we promise something, we must keep our promises, and for this reason I cannot make any promises.

Although the ministry is preparing to work 24/7, "we can't control what's not within our control."

14 Mar, 2022 284


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