GAC fines 24 firms SAR 17.3M for colluding in gov’t tenders

04:15 PM (Mecca time) Argaam
The GAC imposed penalties against 24 firmsfor violating the Competition Law

The GAC imposed penalties against 24 firms for violating the Competition Law

The General Authority for Competition (GAC) announced penalties against 24 firms for violating the Competition Law after being found guilty of collusion and coordination in government tenders. The total fines imposed amounted to about SAR 17.3 million.

 

In a statement, the authority said it detected multiple violations through coordinated bidding in government contracts.

 

Following investigations and inquiries, GAC’s board approved initiating criminal proceedings against the firms found in breach of the law and referred them to the Committee for Adjudication of Competition Law Violations.

 

The Committee subsequently issued 15 final rulings penalizing the firms for confirmed violations.

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