Saudi Arabia Promotes Fair Trade with Mandatory ‘Metrological Verification’

Saudi Arabia promotes fair trade in establishment activity by verifying conformity with specifications and regulations (Asharq Al-Awsat)
Saudi Arabia promotes fair trade in establishment activity by verifying conformity with specifications and regulations (Asharq Al-Awsat)
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Saudi Arabia Promotes Fair Trade with Mandatory ‘Metrological Verification’

Saudi Arabia promotes fair trade in establishment activity by verifying conformity with specifications and regulations (Asharq Al-Awsat)
Saudi Arabia promotes fair trade in establishment activity by verifying conformity with specifications and regulations (Asharq Al-Awsat)

Gas stations, commercial stores, food and catering centers, and gold retailers in Saudi Arabia are now required to submit their metrological verification requests through the e-platform “Taqyees” to avoid violations, according to the Saudi Standards, Metrology and Quality Organization (SASO).

The move is aligned with a transformation plan that looks to elevate services and field inspections carried out by SASO agencies and ensure fair trade, revealed information obtained by Asharq Al-Awsat.

SASO informed the Saudi Investment and Commerce Ministry of the importance of implementing metrological checks on all relevant commercial institutions.

Metrological verification includes a field examination of measuring devices to ensure that they fit pre-approved models and that they work correctly and accurately according to regulations.

SASO, represented by the National Metrology Program (Taqyees), announced starting the process of qualifying the private sector to carry out metrological verification work, activating the role of legal calibration and control of measuring devices in the Kingdom.

With that being said, SASO called on private sector companies and institutions to cooperate in metrological checks on fuel pumps and non-automatic scales, apply controls for qualification verification and maintenance bodies, and issue a type approval certificate.

Entities wishing to obtain a qualification to conduct verification operations can access SASO’s website to view the technical regulations of the legal calibration system.

SASO stressed its keenness to consolidate the partnership with the private sector and work hard to provide a fair investment and commercial environment in the Kingdom.

Taqyees, a legal calibration program, is one of SASO’s initiatives within the National Transformation Program 2020.

The program aims to match legal measurement tools with standard specifications to ensure the validity of sold quantities by conducting technical tests and field verification for several measurement tools such as fuel pumps, water and electricity meters, and commercial scales.



Turkish Annual Inflation Falls More Than Expected to 44.38%

A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
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Turkish Annual Inflation Falls More Than Expected to 44.38%

A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo
A shopkeeper uses his mobile phone as he waits for customers at a popular middle-class shopping district in Istanbul, Türkiye March 4, 2024. REUTERS/Murad Sezer/File photo

Turkish annual consumer price inflation fell more than expected to 44.38% in December, official data showed on Friday, with education, housing and restaurant prices leading the rise.

Month on month, inflation was 1.03%, the Turkish Statistical Institute said, compared with 2.24% in November. Annual consumer price inflation (CPI) was 47.09% in November.

Furniture prices rose 2.78% from the previous month, data showed, while telecoms-related prices gained by 1.82%.

In a Reuters poll, the annual inflation rate was expected to fall to 45.2%, with the monthly figure seen at 1.61%, owing to easing food price inflation and a limited rise in energy prices.

The latest inflation print was close to the central bank's midpoint prediction of 44% for the end of 2024.

The bank, having kept its main interest rate steady at 50% since March, launched an easing cycle last week, cutting the policy rate by 250 basis points to 47.5%.

The bank said it will set policy "prudently" meeting by meeting with a focus on the inflation outlook while responding to any expected "significant and persistent deterioration".

The Turkish lira was little changed after the data at 35.3850 to the dollar, hovering around the record lows.

The domestic producer price index was up 0.4% month on month in December for an annual rise of 28.52%, the data showed.