Government Initiative to Curb Prices: Minister Zitouni Advocates Profit Margin Caps on Essential Goods

BY: Hana Saada

ALGIERS- In a proactive move to regulate prices and safeguard consumer interests, the Minister of Commerce, Mr. Tayeb Zitouni, convened a meeting on Monday with key stakeholders from the business community. The primary objective of the meeting was to discuss and implement measures aimed at capping profit margins on essential and widely consumed products.

Key attendees at the working session included Mr. Nacereddine Messaoudi, the Director General of the OAIC (Algerian Cereals Office), Mr. Kamel Moula, President of the Algerian Economic Renewal Council (CREA), Mr. Abdelouahed Ziani, President of the Confederation of Algerian Industrialists, and the Acting Secretary-General of the General Union of Algerian Traders and Craftsmen (UGCAA). Additionally, representatives from consumer protection associations actively participated in the consultative meeting.

The minister emphasized the significance of restricting profit margins and advocated for ethical business practices to build mutual trust and protect citizens’ purchasing power. The collaborative nature of the meeting aligns with the government’s commitment to fostering transparency in commercial activities and ensuring a stable market.

A press release from the Ministry of Commerce highlighted that the outcomes of the meeting would contribute to refining a specialized charter aimed at regulating profit margins, particularly focusing on the prices of essential goods that hold significant importance for the general public.

“The minister attentively considered all proposals put forth by the participants, who appreciated the inclusive approach adopted by the Ministry of Commerce,” stated the press release.

This initiative reflects the government’s dedication to actively engage with stakeholders and develop effective strategies to mitigate inflationary pressures and maintain fair pricing practices in the market.