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Advisor to the Prime Minister explains the reason for the high prices of commodities and foodstuffs
- Time: 03/23/2023 13:03:15
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{Economic: Al Furat News} The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, explained the reason for the high prices of commodities and foodstuffs, especially with the advent of the month of Ramadan.
Saleh told {Euphrates News} agency: "There is a phenomenon of exploitation unfortunately practiced by the commercial community, specifically in seasons of high family demand for foodstuffs to meet the requirements of the month of fasting."
He added, "The seasonal wave of demand for food commodities is described within the categories of commodity demand for necessities, and it is a rigid, inflexible demand that is achieved even if the prices of the required commodities rise."
Saleh explained, "The commercial supply forces in the market are already aware of the issue of low price elasticity of demand for foodstuffs, and I mean to buy no matter how high the price goes."
He noted that "the forces of greed and exploitation depend on manipulating market balances by temporarily raising supply prices for foodstuffs, meat and other necessities within the scope of the wave of demand for food commodities before the holy month, which is a negative economic phenomenon inherited in our country and contradicts the principles of religion."
From.. Raghad Dahham
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{Economic: Al Furat News} The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, explained the reason for the high prices of commodities and foodstuffs, especially with the advent of the month of Ramadan.
Saleh told {Euphrates News} agency: "There is a phenomenon of exploitation unfortunately practiced by the commercial community, specifically in seasons of high family demand for foodstuffs to meet the requirements of the month of fasting."
He added, "The seasonal wave of demand for food commodities is described within the categories of commodity demand for necessities, and it is a rigid, inflexible demand that is achieved even if the prices of the required commodities rise."
Saleh explained, "The commercial supply forces in the market are already aware of the issue of low price elasticity of demand for foodstuffs, and I mean to buy no matter how high the price goes."
He noted that "the forces of greed and exploitation depend on manipulating market balances by temporarily raising supply prices for foodstuffs, meat and other necessities within the scope of the wave of demand for food commodities before the holy month, which is a negative economic phenomenon inherited in our country and contradicts the principles of religion."
From.. Raghad Dahham
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