“Bajaja”: Punish the merchants who exceed the profit of 100%.. Prevent the exploitation of the joy of Eid


The economic analyst and faculty member at the University of Jeddah, Professor Salem Bajaja, said that the prices of clothes, especially imported ones, are expected to rise these days, coinciding with the approaching Eid al-Fitr, despite the reductions announced by those stores, compared to their counterparts in European countries, as merchants seek profits equivalent to 400%. ؜ – 500%.

He said that seasonal occasions such as Eid al-Fitr represent a great opportunity for merchants to profit financially, which is normal if it is within the normal limits without exaggeration, but exceeding the exaggeration does not give the opportunity for people with low incomes and low salaries to buy these clothes, even if their production is from large international brands and companies, so it is limited Purchase order on velvet layer only.

And he added, “Bajja” that this is the first holiday that we celebrate after the health and economic recovery that the whole world has experienced as a result of the Corona pandemic, as traders seek, after two years of the pandemic, to compensate for what they lost during the last period, and this season represents a golden opportunity to gain, especially after lifting all restrictions that imposed by the Corona pandemic.

The economic analyst pointed out that the reductions announced by the markets and commercial centers may benefit the consumer somewhat, but they do not expose the merchants to any financial losses, as merchants deal with imposing the value of the commodity with every rationing by setting the profit margin, interest and the value of the original commodity, and thus they do not suffer any losses, and their profit becomes 100% guaranteed.

Bajaja called on the Ministry of Commerce to determine the percentage of profit not to exceed 100% of the purchase cost, and any violation of this must be punished by any penalty that it deems appropriate.

Bajaa advised community members to shop according to the budget allocated to the individual, as there are clothes, accessories, shoes and other things at affordable prices, good quality and reliable, instead of buying amounts that are at the expense of the specified budget or using credit cards, which puts the individual in Financial distress after the end of Eid, as bills pile up on him, so it is better to ration purchases and look for suitable alternatives of good quality.

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