201 companies fined TL 1.57 bln for non-competition from 2010-13

Responding to a written parliamentary question, Customs and Trade Minister Yazıcı said that the companies were fined for engaging in covenants not to compete.

201 companies fined TL 1.57 bln for non-competition from 2010-13

World Bulletin/News Desk                        

Customs and Trade Minister Hayati Yazıcı has announced that the ministry levied fines totaling TL 1,577,234,267 between 2010 and 2013 against 201 companies for violating Law No. 4054 on the protection of competition.

Responding to a written parliamentary question, Yazıcı said that the companies were fined for engaging in covenants not to compete.

Yazıcı went into greater detail, explaining that in 2010, the ministry had imposed a fine of TL 38,083,761 on 105 companies in education, chemical products, transportation and logistics, pharmaceutical and the health sector.

In 2011, a fine of TL 362,297,025 was imposed on 33 companies in transportation and logistics, finance and insurance, household appliances and furniture, construction materials and the food.

In 2012, a further 50 companies in transportation and logistics, household appliances and furniture, chemical products, the food sector, and the iron and steel industry were fined TL 59,888,797.

Minister Yazıcı added that 13 companies in insurance and finance as well as the jewelry sector have violated the same law thus far in 2013 and were issued fines totaling TL 1,116,964,684.

Last Mod: 11 Mayıs 2013, 09:51
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