Home Covid-19 Updates Two companies reported to the Competition Commission for almost 2000 per cent...

Two companies reported to the Competition Commission for almost 2000 per cent price hike on masks

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masks

Two companies have been referred to the Competition Tribunal for increasing prices for certain masks by almost 2,000 per cent.

The Competition Commission says Sicuro Safety and Hennox Supplies has not yet given reasons for the price hikes of almost 2000 per cent.

“The commission contends that Sicuro’s and Hennox’s pricing was a direct reaction to the COVID-19 pandemic and its unprecedented impact on the world in general and South Africa in particular,” the commission said in a statement.

The tribunal has been asked to issue an interdict stopping the companies from implementing further excessive increases.

The commission has also asked the tribunal to impose a maximum penalty.

Earlier this month, the tribunal wrapped up its hearing on mask price hikes by Dis-Chem.

The Competition Commission found that Dis-Chem increased prices on essential hygienic goods, to the detriment of consumers.

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Source – eNCA