The Independent Consumer Competition Commission has charged one of the biggest wholesalers in the Highlands region K30,000 for price gauging.
Independent Consumer Competition Commission Commissioner Paulus Ain said that the wholesaler Freedom Apex Limited formerly known as Daewon Limited was fined K30,000 for increasing prices of cooking oil and rice respectively.
He said apart from that the ICCC has also fined a total of 12 shops in Mt Hagen, Western Highlands Province, for a breach of price order No.11 during an inspection exercise carried out on Monday, June 20 and Tuesday, June 21, 2022.
He said that these shops were issued notices last month not to increase prices of certain declared items to more than 10 per cent of the base/shelf price.
“Upon ICCC’s enforcement phase to verify if traders are complying, the inspection team noted that most traders are not complying and have increased prices of declared items to more than 10 per cent of the base price,” Mr Ain said.
“Hence, 12 infringement notices were issued to these traders costing a total of K120,000.”
Mr Ain said apart from wholesaler Freedom Apex Ltd, other traders were fined as well, including Tininga Trading Limited and other Chinese shops.
He said that the fine for each shop is K10,000 for non compliance and the traders have a total of 10 working days to pay up the fine or justify the increases.
The exercise by the consumer watchdog is being carried out in the Highlands region and will continue all throughout the country up until August.