Home » Hanafi Fiqh » Muftionline.co.za » Price increase due to a shortage of a product

Price increase due to a shortage of a product

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: Is the following business practice permissible: 

If a person (wholesaler) buys a product for R10.00 and marks his selling price at R12.50, then for bulk customers he supplies them at R11.00. (i.e. the bulk deal is R11.00.) now when there is a shortage on the product the wholesaler decides to increase his bulk deal price of R11.00 to R11.50 but keeps his normal selling price at R12.50.

Note that the bulk customer becomes accustomed to purchasing at R11.00. Is this practice permissible.

Bismillaah

A: It is permissible.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Read answers with similar topics: