Nine Kuwaiti steel companies booked for fraudulent practices

KUWAIT, Dec 9 (KUNA) -- The Ministry of Commerce and Industry said Saturday its consumer protection teams booked nine local steel companies for refraining from selling steel products unjustifiably in a bid to raise the prices.

The move came after the market watch sector of the ministry has noticed unjustifiable hikes in rebar prices at steel stores of Al-Shuwaikh Industrial Areas, the ministry said in a statement to KUNA.
The nine companies in question will be referred to prosecution under the charge of fraudulence and influencing the market, the statement added. (end) aam.gb