Minister of Industry calls on major merchants to update prices in line with the improvement in the exchange rate of the riyal.

Arab Sea Newspaper - Follow-ups

Arabian Sea - Yemen - Follow-ups: The Minister of Industry and Trade, Muhammad Al-Ashwal, called on major merchants, importers, and commercial agencies to issue new price lists that reflect the improvement in the exchange rate of the national currency, stressing the need to align the prices of basic commodities with the recent economic changes. This came during an expanded meeting held by the Minister today in the temporary capital, Aden, with the attendance of representatives of major merchants and importers, which was devoted to discussing mechanisms for reducing prices, especially in the food and consumer goods sector, taking into account the living conditions of citizens. Al-Ashwal affirmed that the Ministry of Industry and Trade is working to consolidate its partnership with the private sector as a pivotal element in supporting economic stability, stressing the importance of everyone bearing their national and moral responsibilities, and working according to the principle of "no harm and no reciprocation of harm" to alleviate the living burdens on citizens. The Minister explained that the Ministry is about to hold a coordination meeting with the leadership of the Central Bank of Yemen to discuss the necessary financial measures to enhance the stability of the national currency and ensure the provision of foreign exchange to meet the needs of the import market, especially for basic commodities. He pointed out that the National Committee for Regulating Import will play an important role in managing import operations and providing food commodities at competitive prices, in addition to rationalizing the use of foreign currency and reducing its depletion. The Minister praised the sense of responsibility shown by the private sector in dealing with economic challenges, appreciating their positions in supporting stability during the difficult periods the country has gone through. For his part, the Vice President of the Federation of Chambers of Commerce affirmed the importance of this meeting, considering the Ministry of Industry and Trade as the natural incubator for the private sector, and calling for strengthening joint coordination to ensure the stability of markets, alleviate the burdens of living, and enhance food security in the country.