20 companies face penalties for unfair price hikes after devaluation
Officials from the Competition and Fair Trading Commission (CFTC) say they are investigating 20 companies and traders who raised prices of their commodities soon after the infamous 44 per cent Deva of the Malawi Kwacha.
CFTC spokesperson person Innocent Helena said the CFTC board is expected to hand down its verdict to the companies and traders soon.
They are accused of excessive pricing.
Helema said the commission has been investigating the companies, following complaints raised against them concerning overpricing linked to the 44 percent Kwacha devaluation.
After the announcement of the devaluation, President Dr Lazarus Chakwera, ordered the consumer rights body to monitor market developments, ensuring protection against customer exploitation.
Follow and Subscribe Nyasa TV :
Very funny.
This will not be helpful coz thief late
If this is true then let it be like that. Komaso mukanaonakoso mbali yaa venda a chimangawa please
Seven Eleven is selling sugar at K2,400. I asked the worker inside the shop why. He told me that the owners just raised the price a week ago when there was a sign of shortage. Is this how shops are allowed to raise prices especially sugar?
Ndye amene tinagula bread modulafe ku Ekhaya mutitani
ThThe investigations should begin with companies that sell petroleum products.