Peru: Fight against cartels saved 1bn Soles in 2017

The dismantling of cartels during 2017 allowed Peruvian families to save up to 1 billion Peruvian Soles (US$304.9 million), said markets regulator INDECOPI.

In addition, the work promoted by the agency led to savings of US$124.64 for each US$1 the State invested in the defense of free competition.

In August 2017, INDECOPI approved and published the Clemency Program Guide, which facilitates the process that must be followed by companies who request to be considered for the process. The Clemency Program Guide, an essential tool to dismantle cartels that generate losses for the economy, was awarded in the international Antitrust Writing Awards 2018 contest.

The study was commissioned to independent academics from the Autonomous University of Madrid, and included other countries in the region such as Argentina, Brazil, Colombia and Chile. The study also highlights the important positive effect on Peruvian families of the work carried out by the Free Competition Commission (CLC) in the detection and dismantling of price-fixing outfits.