Colombia: Government agencies unite against business cartels

Pablo Felipe Robledo, Superintendent for Industry and Commerce, announced last week the creation of the Elite Group, a joint effort with the country’s Fiscal Prosecution to battle uncompetitive practices in state bidding and public contract processes. The SIC is currently investigating 145 possible cases of collusion in such public tenders, involving up to 838 companies.

The contracts involved amount to nearly $2,5 billion USD of State resources, which “become inefficient when they are channeled towards companies that, through collusion deals, infringe on free competition and create rising costs for the nation” said Robledo.

Just so far in 2016 the SIC has issued fines for over 3 billion pesos, or around $950,000 USD, involving collusion in State contracts.

Full Content: W Radio

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.