The Egyptian Competition Authority (ECA) directed several judicial control missions to the various governorates of the republic, after monitoring a number of violations.
Some manufacturers in the construction materials’ sector raised their prices to an extent not justified by market elements, and this may constitute a violation of the provisions of the competition law.
The ECA also monitored several companies in the land transport sector that disrupt the supply and demand mechanism, as well as hike prices in several governorates, which is also a violation of the competition law provisions.
Moreover, the ECA is taking the necessary measures, in accordance with the law to deter such practices.
In this context, the ECA asserts that it will deal with monopolistic practices in all economic sectors. It is constantly monitoring and following up on what is happening in all markets, in order to protect citizens from suffering and to protect the Egyptian market from monopolistic practices, aimed at raising inflation rates without legal, objective, or economic justification.