Expatriates are not allowed to enter fish auctions at the fish markets unless authorized, according to a circular the Ministry of Commerce and Industry issued recently in an attempt to curb fish prices.

According to local media report, the ministry received many complaints that auctioneers, who are mostly expatriates, allegedly raise the prices to increase their profits. The ministry hopes that the new regulation would help prevent ‘manipulation of prices’, reports added.

According to local media report, the circular stipulated an auction cannot start unless a commerce ministry inspector is present and complies with all his instructions at a time he designates in coordination with the market’s management. Other items stressed that IDs be carried by all licensed owners, brokers and their assistants. The circular commits all vendors to display signs with prices and types of fish, and keeping auction invoices and presenting them when asked by ministry inspectors. The circular decided the shares of bidders and organized them as follows: Companies and restaurants 35 percent, vendors 35 percent, and consumers 30 percent, provided brokers put up signs showing this distribution.