Advertisement
Business

CFTC slaps companies

Advertisement

The Competition and Fair Trading Commission (CFTC) has fined 11 companies after finding them guilty of unfair trading practices.

Out of the companies, 10 have been fined K500,000 while one has been ordered to pay K4 million.

The firms are Eazy Borehole Drillers, Peacock Seed Enterprises Limited, InterCape Bus Service and Be Forward Company, Naheed Supermarket, Health and Beauty Care Pvt. Limited, Farmers World Limited and Dairibord Malawi Limited.

Advertisement

Other firms include Sanu Mobile Limited, Total Electronics Limited, HMS Foods and Grains Ltd.

Some of the companies are faulted for practices such as excluding liability for defective goods and failure to give warranty or guarantee on long use goods.

Apart from the fines, some companies have been ordered to pay remedies or complete services for the complainants.

Advertisement

CFTC Executive Director James Kaphale said in an interview yesterday that the law will take its course on anyone who will defy the orders.

“We have enforcement mechanisms and we can go to court to enforce our determinations. So, if people think they can defy our determinations, we have got those powers and we use the law to enforce the powers to the fullest,” he said.

Meanwhile, Consumers Association of Malawi Executive Director John Kapito has applauded the commission for taking a bold step in protecting consumers.

“This is what we have been denied for long. It is good that even after they [the products] have reached the market, CFTC has protected us,” he said.

CFTC was constituted by an act of Parliament in late 90s to regulate, monitor, control, prevent acts or behaviors which are likely to adversely affect competition and fair trading.

Advertisement
Tags
Show More
Advertisement

Related Articles

Back to top button
Close
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker