Oman cancels price controls for most goods | Oman cancels price controls for most goods -

Oman cancels price controls for most goods

: Monday, June 23 - 2014 @ 05:14

Oman has scrapped price controls for all but 23 basic products, prompting rare public criticism of government policy, after companies demanded freer markets, Reuters has reported. Under new rules announced by the cabinet last week, permission will still need to be sought to increase prices of essential items such as rice, tea and fish. Other goods will no longer need approval, though the authority will continue monitoring all prices for any suspicious rises to prevent monopolistic behaviour, said the cabinet.

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Monday, June 23- 2014 @ 5:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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