Private Sector: No Increase in Prices of Basic Goods in the Market and We Assure Citizens of Abundance of Goods

SadaNews - The Ministry of National Economy, the General Union of Chambers of Commerce and Industry, the General Union of Palestinian Industries, and the Food Traders Syndicate agreed today, Monday, to stabilize the prices of imported and locally produced food items in the Palestinian market during the current month of April.

This meeting comes as a step aimed at protecting citizens from price fluctuations in light of the current exceptional circumstances, particularly the rise in fuel prices globally. It is worth noting that this meeting was held following directives from the Prime Minister and was preceded by a government meeting chaired by Prime Minister Muhammad Mustafa to enhance market monitoring and protect consumers.

This agreement came during an extensive meeting chaired by the Minister of National Economy Muhammad Al-Amour, the President of the General Union of Palestinian Industries Nasar Nasar, the Deputy President of the General Union of Chambers of Commerce and Industry Abd Al-Attari, the President of the Food Syndicate Waseem Al-Jaabari, and the Director of the Government Communication Center Muhammad Abu Rubb, with the participation of major importers and producers of food items, business leaders, and the Consumer Protection Association.

As part of enhancing readiness, it was agreed to form specialized sector committees to study production cost elements in detail and the impact of rising global fuel prices on them, aiming to achieve a balance between price stability and ensuring the continuity of producers and suppliers' operations.

The attendees confirmed that the current stock of basic goods ranges from 3 to 6 months, providing an acceptable level of food security, while emphasizing the necessity of working to increase it in anticipation of any developments or changes that may arise due to the ongoing conflict.

The meeting discussed the repercussions of the war on the Palestinian economy, particularly regarding import movement, supply chains, and food stock levels, where the importance of taking proactive measures to ensure market stability and the sustainable availability of basic goods was emphasized.

The attendees stressed the need to enhance joint coordination among various stakeholders to maintain supply chains and ensure the smooth flow of goods into markets, alongside enhancing storage capacity for food stock, thereby preserving citizens' interests and strengthening their resilience in the face of economic challenges.

The ministry expressed its appreciation for the private sector, valuing its commitment and contribution to maintaining market stability despite challenges.

All parties confirmed the strength of the partnership between the public and private sectors, viewing it as a fundamental pillar for enhancing the resilience of the national economy and ensuring the continuous supply of essential goods and services, especially in times of crisis.