The Competition and Fair Trading Commission (CFTC) has taken decisive action against 11 companies accused of engaging in excessive pricing and unconscionable conduct. Nine farm input distribution companies and two poultry feed manufacturing companies have been issued interim orders, effective immediately.
The farm input companies in question include Export Trading Group (ETG), Farmers World, Malawi Fertilizer Company, Dalitso General Supplies, Paramount Holdings Limited, Optichem 2000 Limited, Rabs Processors Limited, Brussels Fertilizers Limited, and Agora Limited. Meanwhile, CP Feeds and Proto Feeds are the two poultry feed companies under scrutiny.
Lloyds Vincent Nkhoma, CFTC Chief Executive Officer, says Section 23 of the Competition and Fair Trading Act, mandates CFTC to issue interim orders when it believes, on reasonable grounds, that an enterprise has engaged or is engaging in conduct that constitutes an infringement of the Act.
“Under the issued interim orders, the said companies are not to increase prices and not to hoard the supply of the respective products they sell on the market until a determination is made on the matter,” stated Nkhoma.
The commission says failure to comply with these orders will result in criminal prosecution and execution by Section 70 of the Act.
The Order is issued where the Commission must act as a matter of urgency in preventing serious, irreparable damage to any person or category of persons; or protecting the public interest.
Meanwhile, the CFTC encourages consumers and the general public to report any alleged violations of the Act. This move is seen as a significant step towards protecting the public interest and preventing irreparable damage to individuals and businesses.
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