CFTC orders companies to pay K11m for unfair trading practices
The State-owned Competition and Fair Trading (CFTC) has ordered over 50 companies to pay a fine of K11 million for unfair trading practices.
The Commission has also ordered payment refunds amounting to K2.9 million for committing different offences.
CFTC Acting Executive Director Apoche Itimu told reporters on Thursday in Lilongwe during a press conference on the update on decisions by the Commission that the commission considered and adjudicated a total of 58 cases of unfair trading practices and 8 cases of anti-competitive business practices.
“Once we have made our determinations, we register them as high court judgments because that’s what the law under competition and fair trading act provides,” she said.
If the respondents do not comply with the order given by the commission, the Commission can enforce them as high court cases, she said.
Itimu added that the Commission gives the respondents 30 days to pay fines or 15 days to appeal.
She said the determination came following a Commission’s meeting held in Salima in November, 2021.
Some of the companies fined for violating laws include: Bowlers Beverages, Sana Cash & Carry Megastore, City Mall Supermarket, Food Lovers Market, Kalaria Wholesale and First Merchants Bank among others.
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Madam Itemu
You also check if it is not a bad business practice at Mt Meru and Sunseed. U deliver coal there are always funny deductions. You are not sure which quantities you will be paid for. Most coal mines are now closing up. They also dictate prices which are very far below production costs.
Iwe John Chitedze, why does Kwantele like appointing people from one family into key government positions? Whats so special with the Itimus? Do they also go to Assemblies of God?
Congratulations President Chakwera for promoting women into senior positions. He has promoted Apoche Itimu as CFTC Acting Executive Director and her sister Ambumulire Itimu-Phiri as Acting Executive Director for the National Council of Higher Education (NCHE). Apart from being well qualified women, they are long time supporters of the MCP. Their late Dad Mr Itimu served Kamuzu as head of the one party Secret Service, providing very formidable intelligence support to the Ngwazi together with late Liabunya. Keep it up President Chakwera. We want more women in positions of power. Please confirm these powerful Itimu Sisters as CEOs for the… Read more »
Iyi nde iti iti??? Dangerous handicapper uyu