UAE retailers to slash staples prices by 40% during Ramadan

May 29, 2014 1:57 am

UAE economy ministry has announced that major retail outlets and cooperative societies will cut the prices of a range of basic commodities by up to 40% for the month of Ramadan, Gulf News has reported. The outlets have allocated Dhs180m in subsidies to absorb the loss resulting from the price cuts on rice, oil, milk, flour and water, among other major grocery items, said the ministry.