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Controlling the market
Published in The Saudi Gazette on 21 - 11 - 2011

THE 800 men and women who applied to work as additional inspectors at the Ministry of Commerce will not be enough to monitor market malpractices by some unscrupulous businessmen.
They will not be able to cover the Kingdom's wide market and will not have much impact even if they will be added to the existing number of inspectors already on the payroll of the ministry and those hired by the municipalities.
The main job of market inspectors is to check whether products sold in supermarkets, variety stores and other outlets are safe and do not pose any peril to the health of the public. This task include guarding against counterfeit products, checking expiry dates and, in case of perishable goods like meat, to see to it that the products being sold are not rotten.
Another difficult task is to monitor rising prices, which is almost impossible to control because prices are dictated by the law of supply and demand.
Prices can also be manipulated either by manufacturers who may control production or distributors who may hoard goods in their warehouses to create an artificial shortage.
But the main culprit behind all business malpractices is the greed of many businessmen. This is a social malaise which no laws can curb.
The most viable solution begins with planting positive values like honesty among businessmen, whether they are producers, importers or distributors. A campaign might be in order.
Strictly imposing penalties against those who are found violating market regulations and laws will help. The penalties may include fines, suspension, revocation of licenses and publicly naming the violators.
The ministry should also enjoin the public to be vigilant and report any company, supermarket and other business entities they suspect of manipulating prices, selling unfit goods and engaging in other business wrongdoing.
In extreme cases, consumers can even resort to boycotting products that are found to be unfit for consumption or companies found to be habitually violating regulations, laws or standard business practices.
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