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The recently established Central Committee for Price Studies, Inflation Monitoring, and Supply Chains in Kuwait has officially begun its organizational work to control inflation and regulate prices.
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The committee held its first meeting on May 6, during which key leadership positions were assigned and subcommittees were formed—signaling a serious governmental effort to recalibrate the country’s pricing system, an Arab Times report said.
Responsibilities of the committee
Chaired by the Ministry of Commerce and Industry in Kuwait, the committee is now set to execute its core field responsibilities. These include monitoring market prices, tracking inflation, protecting national products, and regulating supply chain operations.
The entity has also laid the groundwork for a series of intensive upcoming sessions to evaluate pricing requests from companies, review the introduction of new products, and ensure the availability of essential goods in local markets.
These steps are part of a broader ministerial initiative to bring order to market dynamics and prevent price manipulation or supply disruptions.
Four specialised subcommittees have been established for this purpose:
- Price monitoring committee
Responsible for observing market trends and approving any proposed price increases. No price changes will be permitted without prior approval from this committee. Adherence to regulatory frameworks remains essential to ensure market stability. - Inflation committee
Tasked with analyzing both local and international economic indicators and recommending appropriate actions. - Market and supply chain regulation committee
Charged with overseeing distribution networks and addressing potential bottlenecks in the system. - Strategic stockpile committee
Focused on evaluating reserves of essential goods and preparing for emergencies.
Institutionalisation of the committee
Members of the committee and subcommittees will not receive any financial compensation, underscoring the initiative’s commitment to public service and institutional integrity.
According to sources, this reflects a clear intent to serve the public interest over personal gain.
Additionally, a dedicated team has been assigned to the secretariat to coordinate operations and provide periodic reports to the Minister of Commerce and Industry.
The coming weeks have been decided to be critical in assessing the committee’s effectiveness on the ground, particularly given challenges such as rising import costs, global market volatility, and seasonal demand pressures.
The committee has been granted the necessary authority and structure to play a proactive and robust regulatory role in stabilising the market.
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