In further clamping down on excessive personal protective equipment supply-prices, the Competition Tribunal has confirmed an order that a Paarl-based pharmaceutical products supplier pay R15,785 to the Solidarity Fund. Cape Times reportes that Sentra Kem’s contribution to the fund forms part of a consent agreement between it and the Competition Commission, the tribunal said, with the amount being equivalent to the profits it made on face masks between March and April this year.
“In addition to paying an amount to the Solidarity Fund, Sentra Kem has agreed to the following, among others, in terms of the consent agreement: to stop the pricing conduct as described in the agreement; to reduce the gross profit margin on its face masks to an agreed maximum percentage; and to develop, implement and monitor a competition law compliance programme,” the tribunal said.
[link url="https://www.iol.co.za/capetimes/news/competition-tribunal-acts-against-paarl-firm-over-ppe-pricing-7963f71d-85f6-4901-9cfc-85215b161c6d"]Full Cape Times report[/link]