The Bangladesh Competition Commission (BCC) has fined Tk 3.5 crore against two egg supply companies after probing price hiked abnormally, reports UNB.
The commission fined Diamond Egg Limited Tk2.5 crore and CP Bangladesh Company Limited Tk1.0 crore as the allegations of abnormally increasing the price of eggs in collusion with different companies have been proven.
The BCC filed a case against the two companies. After the hearing of the case, the commission ordered this penalty on January 22.
Within 30 days of the announcement of the verdict, the amount of the penalty should be deposited in the concerned department of the BCC. If not, a fine of Tk1.0 lakh per day will be added in light of the Competition Act.
In the ninth meeting of the BCC, based on the report of the National Directorate of Consumer Rights Protection and the report published in an online media headlined `Tk518 crore loot from the egg and chicken market in 15 days` and the news published in various newspapers and print media, the decision was taken to investigate this matter.
According to the brief description of the complaint, the investigation report initially shows the crime of violation of the competition law by setting the sale price of eggs in the market abnormally and limiting or controlling the supply of eggs in the market against CP Bangladesh Company Limited, Diamond Egg Limited, and several other organisations.
The summary of the verdict said that the BCC ordered the penalty on both companies based on the investigation report and the written and oral arguments of the lawyers.
