The commission said it has referred to the Competition Tribunal, for confirmation as an order, a consent agreement it reached with Matus, which admitted to inflating the prices of dust masks during this period.
In terms of the agreement, Matus will pay an administrative penalty of R5.9m. The company will also contribute R5m to the Solidarity Fund for Covid-19. Matus — a company with offices in Johannesburg, Cape Town and Durban and satellite branches in Port Elizabeth and Mbombela — supplies and distributes personal protection equipment such as dust masks, overalls, hand sanitisers, fire protective gear and first-aid kits. These are procured from local and overseas manufacturers.
they must set harsher examples...why take R10mil from businesses that cud hv made 100's of millions.? why not take business practice certficate or put the guilty business on Level 6 lock down
Why is it that the government is not arresting these criminals for price inflation.. Mxm
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Company to pay R10.9m for inflating mask prices during Covid-19 disasterA distributor of face masks and other personal protective equipment (PPE) has agreed to pay R10.9m for inflating its gross profit margins on essential hygiene products during the Covid-19 disaster period, the Competition Commission said on Wednesday. Nice 👌🏾 Dischem 🙊🙉
Source: TimesLIVE - 🏆 28. / 59 Read more »
Company to pay R10.9m for inflating mask prices during Covid-19 disasterA distributor of face masks and other personal protective equipment (PPE) has agreed to pay R10.9m for inflating its gross profit margins on essential hygiene products during the Covid-19 disaster period, the Competition Commission said on Wednesday. Nice 👌🏾 Dischem 🙊🙉
Source: TimesLIVE - 🏆 28. / 59 Read more »