Monitor prices

Admin Sun Feb 21, 2021 10:30 pm

Monitor prices

Monday 22nd February 2021 36

The concept of price control is usually associated with the state's economic system, as the authorities assume the responsibility of setting the prices of goods and services to ensure the satisfaction of the basic needs of the public, especially when the commodity supply is scarce. While this concept is used in the market economy system, as a tool to protect the market and the local product, as it is to protect the consumer to prevent merchants from imposing obscene prices by circumventing the market mechanism and competition laws and preventing monopoly.

As developed countries with a system based on the market mechanism resort to legislating price control laws, to be implemented by specialized bodies in cooperation with all sectoral activities, where intervention takes place as soon as a state of monopoly is announced by those activities in accordance with the stated legal texts that regulate competition and prevent monopoly, or The mere promotion of a commodity or service that has a major impact on the market balance in favor of some parties, and sometimes there is an urgent need to control the price of a commodity for considerations of public interest, even if it is necessary to raise the price of this commodity, as the price monitoring body receives a request from the company producing the commodity Or the service to raise the price, then the concerned authority examines and evaluates the request according to the rules followed, and then approves or rejects according to the results of the evaluation and examination, and so on in exceptional circumstances, in which the authorities ’intervention is an urgent matter, due to a shortage of the good or service, or in cases of achieving goals The government's economic and social policy, such as price control, with the aim of reducing Inflation.

Accordingly, the government decision related to directing the detachments of the National Security Agency regarding monitoring the prices of foodstuffs and health supplies during the period of the ban, which was recommended by the Supreme Committee for National Health and Safety by the agency's detachments, is nothing but a procedure consistent with the orientations of the state's form and its economic system, and does not intersect with Freedom of market movement, according to market mechanisms based on price liberalization, as the market mechanism cannot be left without controls even in the most liberal countries, and accordingly, in order to avoid exploiting the state of embargo by the weak to raise prices, such a decision had to be taken. And directing the detachments of the National Security Agency in coordination with the security forces holding and the teams of the Ministry of Health responsible for monitoring the prices of health supplies in pharmacies and stores, so that this procedure would be a very important message regarding market controls that have remained loose over the years, hoping that it establishes the presence of a competent authority to monitor prices to reduce dumping And the protection of the domestic product.

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