GAC fines 13 firms SAR 36.9M for price-fixing

Logo of The General Authority for Competition (GAC)

The General Authority for Competition (GAC) imposed fines on 13 companies operating in various sectors for violating the Competition Law by engaging in price-fixing agreements.
 

In a statement, the authority said it referred the violating entities to the Committee for Adjudication of Violations of the Competition Law, except for those that settled the violations.
 

The penalties imposed on those entities for breaching the Competition Law in the sectors in which they operate were due to proven price-fixing agreements, it added.
 

The committee issued five decisions penalizing the violating entities after confirming the violations. The decisions included total financial fines amounting to SAR 36.9 million against the 13 entities. The committee’s decisions have become final and binding.