The Commission imposed a fine of MK750,000 to the Respondent for excessively pricing gloves.
An inspection conducted on 23rd March 2020 by the CFTC Secretariat, showed that Pharmaworld Pharmacy were charging MK120 for gloves against a benchmark price of MK46, representing an estimated margin of 160%. The trader was issued an interim cease and desist order, which required them to provide written justification for the price which was suspected to be excessive and an infringement of Section 43(1)(g) of the CFTA.
Pharmaworld Pharmacy responded in writing, enclosing supporting receipts to demonstrate that the pricing was not excessive. However, an analysis of the receipts showed that the trader was selling the gloves at MK120 against a benchmark price of MK46.