Authority over Pricing Committee now falls under the administrative control of Ministry of Trade
In a significant administrative shift, the Price Committee's authority in Kuwait has been transferred from the Federation of Cooperative Societies to the Ministry of Commerce. This move, announced on June 30, 2025, forms part of broader reforms aimed at improving fiscal management and regulatory efficiency, with the goal of boosting the state's non-oil revenue streams [1][4][5].
The transfer of jurisdiction is in accordance with existing laws and is expected to streamline pricing regulation, enhancing transparency, fairness, and efficiency in the process [4]. This change aligns with Kuwait’s overall strategy of ensuring uniformity in the regulation of prices and fees, as reflected in related regulatory updates around state property usage and fee standardization [1][4][5].
The agreement, confirmed in a joint press statement by the two ministries, involves the transfer of all electronic systems and access to price archives to the Ministry of Commerce [4]. The shift in jurisdiction is designed to centralise price regulation authority within a government ministry, rather than a cooperative federation, and aims to protect consumer interests and support market stability in Kuwait.
Moreover, the three parties involved - the Ministry of Social Affairs, the Ministry of Commerce and Industry, and the Federation of Cooperative Societies - have committed to jointly monitoring and regulating prices, with the agreement facilitating procedures related to the committee's ongoing work [4]. The move preserves the rights of all stakeholders and is intended to enhance market oversight, ensuring a more effective and efficient pricing regulatory system in Kuwait.
As of June 30, 2025, no contradictory information or further specifics on implementation timelines were found in the provided sources. The agreement is a direct implementation of a Cabinet directive and respects the legal mandates assigned to each entity under current regulations [4]. It is anticipated that this change will accelerate responses to company circulars, further contributing to the overall efficiency of the pricing regulatory system in Kuwait.
The transfer of authority from the Federation of Cooperative Societies to the Ministry of Commerce includes the regulation of prices, which is a crucial aspect of finance and business. The move is expected to streamline pricing regulation and enhance market oversight, thereby contributing to the overall efficiency of the business and financial sectors in Kuwait.
