Businesses Face 10 Million TL Fine for Price Gouging
The Ministry of Commerce in Turkey is cracking down on businesses that are trying to take advantage of the increase in minimum wage by imposing exorbitant prices on consumers. Inspections are currently ongoing in all 81 provinces to ensure that citizens are not being unfairly affected.
A total of 397,198 products have been examined, with violations found in 5,125 products. As a result, businesses found guilty of applying exorbitant prices have been hit with an administrative fine of 10 million liras within a 3-day period. The province facing the most penalties is Istanbul, with a total fine of 4,670,600 liras. Following Istanbul are Ankara and Bursa.
Additionally, investigations have been launched against 2,668 companies for unfair pricing practices. These companies have been asked to provide defense and past invoices to justify their pricing strategies.
The Ministry of Commerce is taking strict measures to protect consumers from price gouging and ensure that the recent increase in minimum wage benefits everyone in the country.
