CTC investigates 4 companies for unfair competition
By NKULUMANI MLAMBO
The Competitions and Tariffs Commission (CTC) is investigating four large companies in the retail and manufacturing sectors for alleged unfair practise which range from unfair trade practices and anti-competitive mergers.
This was said by assistant director of the CTC, Benjamin Chinhengo at an awareness workshop held recently at Flamboyant Hotel in Masvingo.
"There are five big companies that are before the board that have applied to merge in various fields and there are four large companies which the board is investigating for unfair competition in the market unfortunately the companies cannot be made public as that will jeopardise the investigations and the merging process," said Chinhengo on the side-lines of the workshop
The workshop which was the fifth awareness meeting on the operations of the CTC was attended by the business community, Consumer Council of Zimabbwe Masvingo, cooperatives, corporate organisations, parastatals and various Government departments.
The CTC which falls under the Ministry of Industry and Commerce is a statutory body created through an Act of parliament in 2001 after the merger of Industry and Trade Competition Commission (ITCC) and Tariff Commission (TC).
"The CTC is mandated to implement the country's competition policy and law which is administered by the competition division whilst trade tariff investigations are conducted by the tariffs division.
"The commission is authorised to undertake tariff investigations offering assistance to industry through tariff relief or protection," said Chinhengo.
He added that for the commission to recommend tariff relief local companies apply through the CTC and they make recommendations to the relevant authorities after carrying out their own investigations and assessments. The duration of the investigation is determined by the availability and accuracy of information forwarded to the body.
"The final position of the commission is to ensure that the consumer must benefit and producers produce at a fair price to maintain and promote competition so that the economy grows," he added.
Nkulumani Mlambo (0772 118 533/0715 505353)