KUWAIT: A co-operative expert warned against a sudden catastrophe in prices that will hit food and staple products if the co-operative (co-op) sector is considered as a commercial one and the new electricity tariffs is applied to it, which is a big increase over the current rate.
Chairman of the Board of Misrhef Co-op Abdelrahman Al-Qaderi called for avoiding this danger that threatens food security in the country through the retail sector, which co-ops run 90 percent of it, especially that companies are looking into the new power situation to demand increase in prices.
He said a co-operative pays around KD 57,000 for power each year, and will be forced to pay around KD 700,000 based on the new commercial tariffs, which is a huge amount and will reflect on the products’ prices. He said there is a serious move to take this issue to the highest levels to avoid harm for the consumers and cooperatives at the same time. — Al-Anbaa