Business leaders have made moves to reassure the public that the price of other goods will not be raised to cover the cost of Cabinet-proposed subsidy cuts on meat.

More than 80 of Bahrain's largest retailers met yesterday at the Bahrain Chamber of Commerce and Industry (BCCI) headquarters in Sanabis to pledge that they would not raise food prices during Ramadan, said a report in the Gulf Daily News (GDN), our sister publication.

They were joined by officials from Customs, the Agricultural Directorate and the Industry and Commerce Ministry to witness the signing of the document.

BCCI food and agriculture sector committee chairman Khalid Al Amin headed the meeting, which was also attended by BCCI chairman Khalid Almoayed.

Al Amin stressed that traders should also not raise their prices in anticipation of the proposed subsidy cuts on meat, which are due to come into effect on August 1.

"You are in a society with more than 5,000 competitors and we are very close to each other," he said.

"You cannot hike your prices - if you do then no one will come to your shop.

"I remind you that there is Pakistani meat at BD1.4 ($3.6) a kilo and Indian meat at BD1.5 a kilo and there is Somali meat for BD1.6 a kilo - there is a large variety.

"You cannot just raise prices."

Al Amin added that all the relevant authorities would closely monitor prices throughout Ramadan.

Industry and Commerce Minister Zayed Al Zayani praised the traders' pledge.

"I think it is a very courageous move and something to be thankful for," he said.

"They took the initiative themselves and they took the first step.

"We are not concerned - Ramadan is not something new.

"When we have Ramadan every year the merchants and traders have demonstrated commitment to Bahrain and its citizens.

"We have never had a shortage of supplies and have never had an escalation in prices so I don't see a reason it should start any time soon." - TradeArabia News Service