Minister of Industry and Trade Yahya al-Mutawakil confirmed on Wednesday that latest price hikes the local markets have witnessed this week are unjustified and that the ministry had no information about it.

He indicated that these hikes harm relations between private sector and the government as well as interest of consumers.

Al-Mutawakil confirmed that such situations have to push the government, namely the ministry of industry and commerce, to ban any increase in prices according to the law.

The minister clarified that his ministry would present in the next session of the cabinet a complete plan for dealing with current situations of the markets to guaranty covering markets with basic goods during the holy month of Ramadan.

He said that the available quantities of food and basic goods cover the needs of consumers. "The Yemen Economic Corporation has signed contracts to provide markets with quantities of wheat during next five weeks, "the minister said.

Al-Mutawakil pointed out that the cabinet issued a number of decisions for encouraging competition to avoid monopoly. "The cabinet also formed a committee from ministries of industry, legal affairs and justice for preparing inclusive trade legislation for competition," he said.