General Authority for Competition Fines 13 Companies Up to 36.9 Million Riyals for Price-Fixing Agreements
The General Authority for Competition (GAC) published its decisions issued against 13 companies after they were proven to have violated the Competition Law through price-fixing in cases involving multiple commercial and service activities, with total fines amounting to 36,918,885 riyals.
The Authority explained that the violations focused on practices intended to restrict competition and harm the market, where coordination took place between entities operating in the same sectors to fix or influence prices, violating the provisions of the Competition Law related to encouraging fair competition in the markets.
The decisions included the following companies, detailing the activity subject to the violation:
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Waste Collection and Recycling Co. (WASCO): Price-fixing in the activity of recycling and reusing municipal waste.
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Arabian Recycling Company Ltd: Price-fixing in the activity of recycling and reusing municipal waste.
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Modern Makkah Cold Store Company Ltd: Price-fixing in the activity of retail sales of poultry and eggs.
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Nahdi Medical Company: Price-fixing in the activity of retail sales of medical supplies and equipment.
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Al-Dawaa Medical Services Company: Price-fixing in the activity of retail sales of medical supplies and equipment.
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Saudi Marketing Company (Farm Superstores): Price-fixing in the activity of retail sales of medical supplies and equipment.
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Tamimi Markets Company: Price-fixing in the activity of retail sales of medical supplies and equipment.
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United Pharmaceutical and Medical Supplies Company Ltd: Price-fixing in the activity of sales of medicines and medical supplies.
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Modern Advertising and Publicity Company Ltd: Price-fixing in the activity of advertising and publicity.
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Wave of the Era Advertising and Publicity Company: Price-fixing in the activity of advertising and publicity.
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Qaden Advertising Agency: Price-fixing in the activity of advertising and publicity.
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Rimal Al-Arid Contracting Company: Price-fixing in the activity of crossing operations.
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Al-Mayad Leasing Company: Price-fixing in the activity of crossing operations.
The Authority stated that the total fines issued against these entities reached 36.9 million riyals, noting that the publication of these decisions is based on Article 19 of the Competition Law issued by Royal Decree No. (M/75).
The General Authority for Competition emphasized its continued monitoring of local and foreign markets, tackling monopolistic practices, and taking legal action against violators to enhance a fair competitive environment, protect consumer rights, and raise the efficiency of the national economy.
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