Cairo – Mubasher: Egyptian Competition Authority (ECA) said it imposed a fine of EGP 7 million on the Egyptian Financial and Industrial Company (EFIC).
ECA claimed that Egyptian Financial and Industrial Co. has violated the law through its agreement with Abu zaabal fertilizer & Chemical Co.in respect to fixing the fertilizers’ prices.
On other hand. EFIC addressed the Competition Authority where it assured the soundness of its legal status.
Earlier, ECA referred 24 fertilizer distribution companies to public prosecution for manipulating prices and violating the Competition Law.
