Muscat – The Economic and Financial Committee of the Majlis A’Shura met on Monday with Sulayem Al Hakmani, Chairman of the Consumer Protection Authority (CPA), and H E Ghalib Al Ma’amari, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion, to discuss efforts to stabilise supply chains, ensure the availability of essential goods and maintain the stability of the local market.

The meeting began with a visual presentation by the Ministry of Commerce, Industry and Investment Promotion outlining the current state of supply chains and their implications for the domestic market.

The presentation highlighted measures being taken to strengthen market readiness and ensure continuity of supply. These include daily monitoring of stock levels, prices, exports and shipments; adopting flexible measures to regulate exports and facilitate imports; coordinating with ports, customs authorities, suppliers and regulatory bodies; and strengthening market oversight to curb monopolistic and exploitative practices.

Al Hakmani also delivered a presentation on key economic variables affecting the local market and their impact on consumers. He reviewed the effects of fluctuations in energy prices, as well as shipping and transportation costs, on the prices of goods and services and the resulting pressure on consumers’ purchasing power.

The presentation also highlighted the CPA’s efforts to monitor markets and prices, strengthen regulatory oversight and review requests for price increases, contributing to market stability and safeguarding consumer interests.

Committee members raised a number of questions regarding the goods database, stock volumes and supply levels. They also discussed congestion at some border crossings, rising shipping costs linked to pressure on transport trucks, higher insurance costs and the impact of these factors on the final prices of goods and inflation faced by consumers.