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Turkey is expanding market Searching operations over Exorbitant prices

by John Pierce
July 3, 2023
in Business
2 min read
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The Turkish Ministry of Treasury and Finance took action to adopt tougher measures for supermarkets and stores that charge exorbitant prices for goods, a issue It was on The government agenda for sometimes.

Accordingly, the ministry implemented out expensive price and market label inspections, mainly in The capital is Ankara.

The move It came after the cabinet meeting held on November 28, when President Recep Tayyip Erdogan said that government will take action against Allegations that were dominating public agenda as well.

Driven up in Food prices and rising energy costs and consumer prices in Turkey was up 85.5% annually through October, according to official data. Officials blamed inflation on Mainly higher commodity costs caused from Russia invasion of Ukraine, as well as other external factors.

as part of Audits and pricing of basic necessities, especially vegetables and fruits, basic Food products and cleaning products in Markets have been examined by inspection teams.

Officials checked whether there was a difference between the label price of product f price At checkout, label and fingerprint information of product f price of Discounted product before discount. The teams took The randomly Selected products to go out and compare prices.

Adnan Binali MP general manager of Ministry of local trade, in Rating of members of Regarding press inspections, the ministry said, she became pregnant out expensive price Increases and label inspections within range of Law on Laws of Retail and the law on protection of consumer.

stipulate that they control the buying and selling prices of The products they chose during the audits, Benley explained in issue of a needThey collect minutes in that issue The purchase and sales invoices of These products and sent to the unfair price evaluation board, which was created under the responsibility of Ministry.

“K result of Examinations and assessments conducted madeif there is any violation of Legislation and if it is determined to be exorbitant price he is madethis is board Imposes penalties from 14,600 TL to 146,600 TL ($785 to $7,865 USD) against these companies.”

Penalties apply for market Abuse actions as well with Minimum of 100,000 TL and the upper limit of 2 million TL fine.

Indicating that they are continuing inspections in chain markets, manufacturers, suppliers and retail companies in 81 governorates, Benley said that citizens can apply to the provincial directorates of Ministry of Commerce in issue of Naming inconsistencies f call Alo 175 Consumer Hotline.

Turkish Competition Authority (RK) in October last year fined retailersincluding BIM, Migros, CarrefourSA, Şok Marketler and A101 Yeni Mağazacılık, with approximately $283 million for Violation of antitrust regulations.

The agency indicated that the companies had coordinated the prices of products directly or via Suppliers in way it was against Interests of Consumers got into a cartel-like Coordinated agreements or actions.

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