His Excellency the Minister, the Chairman of the Competition Council approves fines worth 40 million on a group of rice traders because of their agreement to increase prices

17 Dec 2013

MCI Minister and Chairman of Competition Protection Council,  Dr. TAWFIG FAWZAN ALRABIAH has approved the decision issued by The Arbitration Commission for competition violation against a number of establishments working in the field of rice .

These establishments violated the competition system by agreeing to reduce the size and weight of the package with an increase in prices, the total fines against those establishments reached 40 million riyals, and the Council will defame these violating establishments after the decisions issued against them becoming final, as it is , according to the competition system, the decisions taken may be appealed to in front of the Board of grievances .
According to Article XII of the competition system, any violator will be punished for each violation of the provisions of this system a fine not exceeding five million riyals, and the fine shall be doubled in case of repetition, and the judgment shall be published at the expense of the violator.
Note that the modified competition system which is under the proposed approval by the concerned authorities, is to link the value of the fine with the sales volume of the Est. violating the system , which will be a deterrent for the Est. that violate the competition system .
The Chairman of the Council, Dr. Tawfiq Al-Rabiah pointed out that the Council seeks to achieve the objectives of the Competition system and to promote fair competition and to punish violators through the application of the provisions of the competition, and defamation of those companies after the decisions against them become final , aiming for all Est. to comply with the Competition system and for the reduction of monopolistic practices that affect the legitimate competition .
On the other hand, the Secretary General of the Council, Dr. Muhammad Al-Qasim pointed out that the Council will stand firmly against all establishments  violating the competition system and work to achieve the objectives of the system for protection and promotion of fair competition and anti- monopoly practices that affect the legitimate competition , all Est. are invited to review the competition system and visit our website and take advantage of all the services available from our part , and follow-up the account of the Council through the social communication . The Council stands ready to cooperate with those Est. in the introductory workshops for the competition system in addition to the Workshop held in all the Chambers of Commerce across the Kingdom in order to raise awareness and promote a culture of fair competition
Last Modified 26 Dec 2018