Suppliers found guilty of unrest price gouging face R1m fines
The National Consumer Commission says businesses found guilty of price gouging, in the wake of the social unrest, face fines of up to R1 million.
The consumer watchdog has warned suppliers in KwaZulu-Natal and Gauteng not to use the disruptions as an opportunity to rake in profits.
The commission’s Phetho Ntaba says those violating the Consumer Protection Act will be dealt with.
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"Unfair, unreasonable or unjust pricing or price gouging is when a supplier's price increase of goods or services do not correspond to, or now equivalent to the increase of providing that service or goods.
"Suppliers who increase prices unconscionably will face the full might of the law.
"The commission will ensure a supplier is fined up to R1 million or up to 10% of their annual turnover or even imprisonment."
