Penalty of 59.4 million TL to 1,561 companies that carried out unfair price increases

The Unfair Price Evaluation Board has decided to impose an administrative fine of 59 million 432 thousand 375 liras on 1,561 companies that are considered to have increased their prices exorbitantly in many product categories, especially basic foods.

The Board imposed administrative fines ranging from TL 14,860 to TL 148,607 for companies that have increased their prices exorbitantly in the past year, and from TL 100,000 to TL 2 million for those engaged in warehousing activities.

DETERMINATION OF HIGH ELEVATIONS THAT DO NOT MATCH THE BALANCE OF SUPPLY AND DEMAND

Due to complaints filed with the Ministry for exorbitant price increases, 81 provincial governments (provincial trade directorates) were instructed to carry out unfair price inspections. In this context, inspections were carried out on basic foods and consumer products in markets and wholesalers.

46,712 companies and 274,353 products were simultaneously audited throughout the country by the provincial commerce departments between January 1, 2022 and December 31, 2022.

Products with price increases that did not coincide with the supply-demand balance were identified, the defenses of the audited companies were taken up and the necessary information and documents were requested, such as invoices for the purchase and sale of the products. The companies’ defenses and the information provided were submitted to the Unfair Prices Evaluation Board for evaluation.

CAR DEALER INSPECTIONS

On the other hand, after the Presidential Resolution dated August 12, 2021, which modified the base of the SCT in order to reduce the prices of zero kilometer vehicles, inspections were carried out by inspectors based on the complaints received by the Ministry.

In this context, in 2022, 14 automotive dealers were fined 7,637,700 liras of the upper limit of the penalty of 545,550 liras for reasons of storage. (AA)