KUWAIT, June 30 (KUNA) — The Ministry of Social Affairs, the Ministry of Commerce and Industry, and the Kuwait Union of Consumer Cooperative Societies (KUCCS) signed a trilateral cooperation protocol on Sunday to transfer pricing authority.\n\nIn a joint statement, both ministries said the agreement included creating a legal framework to transfer all electronic systems and pricing records to the Ministry of Commerce.\n\nThis move aligns with a Cabinet directive to shift the pricing committee’s responsibilities to the Ministry of Commerce, in accordance with existing laws, while safeguarding the legal rights and obligations of all involved parties, the statement added.\n\nThe three parties agreed to form joint teams to monitor prices, protect consumers, and promote market stability.\n— news from Kuwait News Agency\n\n— News Original —\nKuwait transfers pricing cmte to Ministry of Commerce under new agreement\nKUWAIT, June 30 (KUNA) — Ministry of Social Affairs, Ministry of Commerce and Industry and Kuwait Union of Consumer Cooperative Societies (KUCCS), signed, Sunday, a trilateral cooperation protocol to transfer the pricing authority. nIn a joint statement, both ministries said the agreement included creating a legal framework to transfer all electronic systems and pricing records to the ministry of commerce. r nThis move came in line with Cabinet directive to shift the pricing committee’s responsibilities to the ministry of commerce, in accordance with existing laws, while safeguarding the legal rights and obligations of all involved parties, the statement added. nAll three parties agreed to form joint teams to monitor prices, protect consumers, and promote market stability. (end) r noys.sar