CFTC to act against profiteering from Covid-19 crisis:  Malawi price controls

President Peter Mutharika has  warned businesses  against profiteering from the coronavirus crisis and ordered the country’s Competition and Fair Trading Commission (CFTC) to put in place strict monitoring of price controls and punish anyone found increasing prices at the expense of Malawians .

CFTC executive director James Kaphale (2nd L) to put in place strict monitoring of price controls

Mutharika asked the commission to increase surveillance and protect consumers from anyone who wants to unfairly increase prices of essential goods.

“People who intend to take advantage of our current situation will be punished,” said Mutharika.

“I will not allow anyone to take advantage of coronavirus attack to exploit consumers,” he added.

CFTC executive director James Kaphale in an interview with Nyasa Times said they will take “all action necessary” following the President’s directive.

He  implored consumers to report any unfair trading conduct to the CFTC.

President Mutharika said  he has discussed with SADC, COMESA and other regional trade blocks as well as neighbouring countries to ensure smooth transportation and importation of essential goods and raw materials into Malawi.

He also ordered all non-essential service providers in both the government and private sector to work from home with immediate effect.

Mutharika said government  will discuss with Malawi Confederation of Chambers of Commerce and Industry and the Tourism Association of Malawi for  “win-win arrangements” that will ensure that there are no redundancies in companies.

On Thursday, Malawi recorded its first three confirmed cases of the coronavirus. On Saturday, the number rose to four.

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Kanjedza
Kanjedza
6 months ago

CFTC is a joke. Did they have to wait till the president instructions

Go around and check the way prices went up for sanitizers & masks. Retilaers/ pharmacies made a killing. Pharmacies are also selling expired masks . They still have stock of 2016 masks. MBS is also been sleeping since 2016

Odàla
Odàla
6 months ago

Good move, start with transport like minibuses, buses and others who have already killed Malawians more than Corona within past week

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