Accra:Mudhar Muhammad Salih, the Financial Advisor to the Prime Minister, has highlighted the government’s regulatory measures aimed at controlling markets and curbing unjustified price increases. These measures are designed to combat monopolization, speculation, and the exploitation of citizens’ needs for food and consumer goods.

According to Iraqi News Agency, Salih emphasized the collaborative efforts of commercial and regulatory bodies in monitoring markets, identifying violations, and enforcing legal actions against offenders. These initiatives are intended to foster fair competition and protect the purchasing power of citizens, particularly those with limited incomes. He also stressed the importance of coordination among relevant authorities to ensure the smooth flow of goods into markets, which supports government initiatives to facilitate trade, enhance market efficiency, stabilize prices, and ensure the availability of essential commodities.

He further explained that effective oversight targets monopolistic practices and price manipulation, rather than legitimate commercial activities. The goal is to balance consumer rights with the interests of compliant merchants, while promoting a transparent and fair business environment. Salih mentioned the government’s move to adopt the Iraqi dinar for domestic transactions, which is expected to bolster confidence in the national currency and regulate market dealings.

Sustained regulatory oversight, enhanced institutional coordination, support for local production, and penalizing violators are crucial for consumer protection and market stability, according to Salih. He concluded that price stability requires integration with economic and supply policies, as well as measures that facilitate commercial activity, to support living standards and economic and social stability in Iraq.