South Africa’s Competition Commission will prioritise complaints about rising prices for essential products to ensure that firms exploiting consumers are quickly prosecuted and penalised during the state of national disaster, it said.
With heightened concerns about Covid-19, the commission has noted several complaints from the public about rising prices for essential products, in particular some food, healthcare and hygiene products, the antitrust body said in a statement Friday.
There are also concerns of suppliers inflating prices as government, retailers and private healthcare companies embark on emergency procurement of products to curb and manage the spread of coronavirus.
The government has gazetted regulations aimed at strengthening the ability of the Competition Commission and the National Consumer Commission to respond to exploitative pricing. The commission has set up a dedicated team to respond and investigate complaints, and to fast track these through referral and prosecution before the Competition Tribunal, it said.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI