The Competition and Fair Trading Commission (CFTC) has ordered 11 pharmacies that raised prices of medical supplies by up to 400 percent because of the threat of coronavirus to lower the prices.
The Commission has issued a cease and desist order to six pharmacies in Lilongwe and five in Blantyre.
According to CFTC executive director James Kaphale, the order follows a market inspection conducted by the commission from 20 to 23 March to assess compliance with consumer pricing laws.
“During the inspection, the commission found that these pharmacy shops had raised prices of basic medical supplies used in the prevention of the coronavirus by margins ranging from 100% to 400%. This conduct creates terms and conditions of trade which are unfair, unreasonable, oppressive and unconscionable to consumers,” said Kaphale.
He described the conduct as a serious infringement of the Competition and Fair Trading Act (CFTA) and the Consumer Protection Act.
He said the CFTA makes it an offence for any business to engage in unconscionable conduct in the supply of goods and services
Kaphale then warned that any pharmacies which will not comply with the order will face stiff sanctions.