CFTC takes action on exploitative pricing

The Competition and Fair-Trading Commission (CFTC) has implemented measures to protect consumers from unfair trading practices, particularly exploitative pricing, in response to rising commodity prices on the local market.

Preliminary investigations by the commission point to foreign exchange shortages and rising raw material costs as key drivers of the price hikes.

CFTC Spokesperson Innocent Helema told YFM that the commission has launched investigations into several companies. So far, 13 interim orders have been issued, though 12 have been overturned by the courts.

Currently, the commission is handling 15 active cases related to exploitative pricing.

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