The General Authority for Competition (GAC) announced that the Competition Law Violations Adjudication Committee issued its decision to penalize 4 establishments operating in the concrete sector for their agreement to raise and stabilize the prices of ready-mixed concrete.
The General Authority for Competition (GAC) said in a statement today that based on its duties and competencies in enforcing the competition law and in extension of its role in protecting and encouraging fair competition and combating monopolistic practices, and in order to achieve the principle of transparency of procedures, the Authority would like to clarify that it received a complaint from a number of citizens. It is suspected that a number of establishments operating in the concrete sector violated the Competition Law by agreeing among themselves to raise and stabilize the prices of ready-mix concrete, which is prohibited by paragraph (1) of Article 4 of the Competition Law issued by Royal Decree No. M\/25 dated 4\/5\/1425H, which is prohibited by paragraph (1) of Article 4 of the Competition Law promulgated by Royal Decree No. (M\/25).
She added: \u201cBased on the preliminary investigations, the Board of Directors of the Authority issued its decision on 05\/05\/1439 AH to \u201capprove taking investigative procedures, research, collecting evidence and investigating the possibility of establishments operating in the concrete sector in the Saudi market and related parties violating any of the articles of the Competition Law and its executive regulations\u201d.
It indicated that after collecting evidence and information and conducting the necessary investigations, it became clear that a number of establishments violated the competition law by agreeing among themselves to raise and stabilize the prices of ready-mix concrete, and based on the statutory powers to refer practices that violate the competition law to the Competition Law Violations Adjudication Committee for a decision The Board of Directors of the Authority issued a decision to initiate criminal proceedings against these establishments, and the adjudication committee issued its decision on 22\/12\/1441 AH to penalize Abdulaziz Sulaiman Al Muhailab & Co. for Cement Products, Badr Khalid Al Shahili Factory for Ready Mix Concrete, Nasser Al Farraj Ready Mix Company Factory, Al Wadi Ready Mix Company.
She continued: \u201cBased on paragraph (1) of Article 4 of the Competition Law, which stipulates the following: \u201cPractices, agreements or contracts between competing or potentially competing enterprises, whether written or oral, whether explicit or implicit, are prohibited if the purpose or effect of such practices, agreements or contracts is to restrict trade and distort competition between enterprises, including controlling the prices of goods and services intended for sale by increasing, decreasing, stabilizing, or in any other way harmful to legitimate competition.\u201d.
The decisions included publishing the penalties at the defendants' expense. It should be noted that the decisions and rulings have acquired final status, which included fines of (fifty thousand riyals) for Abdulaziz Sulaiman Al-Muhailib & Co. for Cement Products, Badr Khalid Al-Shahili Factory for Ready Mixed Concrete, Nasser Al-Faraj Ready Mixed Concrete Factory, and Al-Wadi Ready Mixed Concrete Company.
KDIPA calls on all organizations to comply with the competition law and its executive regulations, and to work with the contents of legitimate competition that encourages consumer choices and supports the growth and efficiency of markets within a framework of justice and transparency.
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