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 The Ministry of Commerce and the General Authority for Competition are Investigating about Monopolistic Practices, as some Traders are Exploiting Corona Crisis to raise Prices

22 Mar 2020

 

The Ministry of Commerce and the General Authority for Competition have started investigating a number of violations related to Corona crisis recently, including monopolistic practices, aiming at creating a shortage of goods in the health sector, especially sterilizers and medical masks, as well as following up a number of violations resulted from the agreement between some suppliers and establishments to raise the prices and exploit the crisis by storing large quantities of needed items to be sold later at high prices.

The two government sides emphasized joint coordination and commitment to respond to any complaints related to prices and monopolistic practices. The two parties confirmed performing their duty to protect the consumers, preserve their rights and to ensure and encourage fair trade competition, besides combating any monopolistic practices.

The Ministry of Commerce and the General Authority for Competition appreciate the private sector initiatives during this crisis, praising their keenness and commitment to maintain the continuity of food supply, the flow of goods to markets and outlets, and their role in the price stability.

The Ministry of Commerce and the General Authority for Competition call on all consumers to lodge their complaints and reports about any exaggeration in prices and monopolistic practices through MCI Consumer Call Center (1900), or the toll free number of the said Authority (920003050), or through the application of a Commercial Violation Report, or via the Ministry website, or via the said Authority website (www.gac.gov.sa).


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Last Modified 23 Mar 2020
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