Abu Dhabi gets tough on establishments hiking prices of food, medicine amid COVID-19 crisis

The event is due to be held in October but organizers are now looking into a one-year postponement. (Expo 2020 Dubai)

RIYADH (RAHNUMA) : Fines ranging from $68,000 (Dh250,000) to half a million (Dh2,000,000) await commercial establishments and pharmacies that will be found to hike prices of food products and medicines, or hoard essential items, the economic department of Abu Dhabi has announced.

The decision follows several other directives by the government to support the community in its fight against the coronavirus.

The Department of Economic Development (DED) said the move will help regulate the market and protect consumers at a crucial time.

Violators will also be temporarily shut down, according to the new DED rule, and their trade licenses will be suspended for weeks.

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