The Regulation on Unfair Price Assessment Board was published in the Official Gazette dated 28 May 2020 and numbered 31138. With this regulation, the formation, duties and powers of the Unfair Price Assessment Board which will operate in cases of emergency, disaster and economic fluctuations, and other emergencies, and the exorbitant price increase and stocking practices of the manufacturers, suppliers and retail businesses, and administrative fines are regulated.
Along with the regulation, the duties of the Unfair Price Assessment Board are determined as follows:
- To take necessary measures to protect the market balance and consumers against exorbitant price increases and stocking practices and to ensure their implementation.
- To make or have inspections and inspections related to exorbitant price increases and stock practices. Obtaining or obtaining the defense of the manufacturer, supplier and retail business regarding these audits and inspections.
- It has been determined as to take administrative fines and to ensure the implementation of this decision about producers, suppliers and retail businesses that are found to act against the determined obligations.
Applications for complaint will be made to the Ministry of Commerce or to the Provincial Directorate of Commerce through a petition, complaint system or other electronic application methods.
The Board may decide administrative fines from ten thousand Turkish Liras to five hundred thousand Turkish Liras for those who act contrary.
A transitional provision was also regulated by the Regulation. Accordingly, applications made to the Ministry of Trade on exorbitant price increase practices before 17/4/2020 will be finalized by the Ministry of Trade, and applications after this date will be concluded by the Unfair Price Assessment Board.