Abu Dhabi to fine companies for hiking prices amid COVID-19 outbreak

Legal action will be taken against companies that increase prices on essential products in Abu Dhabi.

According to the UAE capital’s Department of Economic Development, the decision will curb unjustifiable price hikes on food supplies and medical equipment as demand increases amid concerns over COVID-19.

Officials have revealed that violators will be slapped with a fine worth AED250,000, with some fines reaching up to AED2 million companies repeat the offense.

The DED may even temporarily close down violating facilities and suspend their license for up to three months or permanently shut down the establishment, confiscate the said items and refer the case to prosecution.

The administrative fines can also be appealed by violators within 60 days of date.

بناء على توجيهات المجلس التنفيذي لإمارة أبوظبي، أصدرت دائرة التنمية الاقتصادية قراراً بشأن المخالفات والجزاءات الإدارية على المنشآت الاقتصادية، للحد من مخالفات رفع أسعار المواد الغذائية والطبية دون مبرر، وممارسات الاحتكار، بهدف ضبط الأسواق وحماية حقوق المستهلكين. pic.twitter.com/A1juc5HnTo

— مكتب أبوظبي الإعلامي (@admediaoffice) April 2, 2020