Financial, administrative violations estimated at KD 105,000 discovered in co-op

All those involved referred for investigation: Shuaib

KUWAIT CITY, June 3: At a time the Union of Consumer Cooperative Societies reiterated rejection of several companies’ request to increase prices of commodities, Assistant Undersecretary for Cooperative Affairs in the Ministry of Social Affairs Abdulaziz Shuaib confirmed the discovery of grave financial and administrative violations estimated at KD105,000 in a cooperative society in Ahmadi Governorate.

Shuaib disclosed an intermediary company and two workers in the cooperative society conspired to enter commodities worth KD35,000 into the account of the cooperative without delivering the items; whereas items worth KD20,000 were seized and placed in an abandoned storage with the intention to sell the items on cash basis only.

He said a case was registered at the police station in the area and all those involved have been referred for investigation, followed by referral to the Public Prosecution.

Meanwhile, Head of the union Khalid Al-Hudaiban has confirmed close monitoring of prices through inspection visits in cooperative societies in order to check Ramadan promotions offered to consumers and follow up the supply of various commodities.

He stressed that the union is keen on preventing price hikes, indicating an adhoc committee consisting of experienced inspections has started tightening control over prices. On the other hand, Al-Rai daily has quoted reliable sources as saying that there is no intention to abolish the committee tasked to monitor prices in order to form another committee consisting of representatives from the Union of Consumer Cooperative Societies only as it was done in the past.

Sources said the current committee members include the Ministry of Commerce and Industry, Union of Consumer Cooperative Societies, Ministry of Social Affairs and Labor, Kuwait Chamber of Commerce and Industry, and Kuwait Union of Food Manufacturers and Traders.