CFTC warns traders against overpricing

The Competition and Fair Trading Commission (CFTC) has asked consumers to report to the commission any trader who they suspect to be involved in unfair trading practices.

The call comes amid reports that some traders are taking advantage of COVID-19 restrictions put in place by the government by offering their goods at exorbitant prices which is against the Competition and Fair Trading Act.

Recently, some health facilities complained that soon after the Ministry of Health gazzeted COVID-19 restrictions such as mandatory wearing of face masks, the suppliers of the commodity doubled their prices.

Speaking to YFM online, CTFC Public Relations Officer, Innocent Herema, said although the commission has not received any official complaint recently, but has warned that if any trader is found doing the malpractices, proper punishment shall be imposed.

Herema said: “The law clearly indicates that if a person is found offering unreasonable price on goods or services then he is definitely contravening the Competition and Fair Trading Act, therefore, if a consumer comes across such traders they are encouraged to report to us for a proper action.”

He further reminded the consumers that they can also report such malpractices to CFTC through toll free line which is 2489.

In May this year, CFTC fined eight firms in the country for overpricing Covid-19 equipment such as facemasks, hand sanitisers and gloves.

The eight firms were Maula Pharmacy, MaxiCare Pharmacy, Excel Pharmacy, City Pharmacy, Pharmaworld, Pharmalife Pharmacy, Lifestyle Pharmacy and CNC Health and were given fines ranging from K500,000 to K2 million.

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