Over 1,900 firms fined over exorbitant price hikes: Minister
ANKARA
More than 1,900 companies have been handed administrative fines totaling 137 million Turkish Liras over unfair price increases, Trade Minister Ömer Bolat has said.
They are closely monitoring companies that negatively impact consumers through exorbitant price hikes and put well-intentioned businesses under suspicion, the minister added.
In Türkiye's all 81 provinces, 55,392 companies and nearly 315,000 products have been inspected, Bolat said, noting that those goods include basic food and necessities, as well as emergency products to be used during the state of emergency, disasters and economic fluctuations.
Due to the violations detected by the Unfair Price Evaluation Board, administrative fines amounting to 137 million liras have been imposed, according to the minister.
Efforts are continuing to eliminate the speculative price formations and stockpiling in the automotive market, Bolat also said.
“Among our long-term goals is the reestablishment of a fair, competitive and stable market structure in the automotive industry.”
Regulations regarding marketing, sales and advertising restrictions have been put into effect, and as a result of intensive inspections, penalties are imposed on those who act contrary to the regulations, according to the minister.
The measures implemented and inspections have had a positive impact on the functioning of the auto market, he said.
“Although we anticipate that the normalization in the automotive market will continue, we will not hesitate to implement additional measures immediately if necessary, taking into account the opinions of automotive industry representatives,” Bolat said.
