CFTC fines Pharmacy shops for overpricing COVID-19 prevention materials

Eight pharmacy shops have been fined by the Competition and Fair Trading Commission (CFTC) for overpricing COVID-19 prevention supplies.

The fines range from K500,000 to K2 million, CFTC Executive Director James Kaphale told journalists in Lilongwe.

He said the fines follow a recent CFTC board meeting on the issue, adding that the shops were found overpricing sanitation and hygiene supplies including gloves, face masks and hand sanitizers.

Kaphale said the practice is in conflict with the CFTC Act.

He said the fined shops are Maula, Max Care, City, Pharma World, Pharma Life, Life Style and CNC health Pharmarcies in Lilongwe, and Excel Pharmacy in Blantyre.

Government has since allocated K40 million to the CFTC for enforcement of best trading practices.