Action was taken against “Agrobank”
Crime
−
09 July 12256
Action was taken against "Agrobank" in response to alleged violations of the Competition Law. The Tashkent regional office of ADB "Agrobank" faced a case following complaints reviewed by the Committee for the Development of Competition and Protection of Consumer Rights of Uzbekistan.
The committee's Tashkent regional administration investigated appeals from Chinoz district farms. It was found that the Chinoz branch of "Agrobank" ATB signed loan and supplier agreements with these farms. However, bureaucratic hurdles arose when the Agro-industrial complex department at the head office of "Agrobank" ATB demanded unnecessary documentation from the Chinaz district administration to include suppliers for fertilizer, fuel, machinery services, and spare parts in loan-funded purchases.
Additionally, it was revealed that 4.6 billion soums of preferential credit intended for the Grain-2024 crop cultivation by farms were utilized by the Chinoz branch of "Agrobank" ATB.
Consequently, based on these findings, a case was initiated against the Tashkent regional office of Agrobank ATB for suspected violations of Uzbekistan's Competition Law, and appropriate measures were taken. The report also mentioned ongoing regional investigations related to similar cases across the country.
Previously, similar actions were taken against "Lukoil Overseas Supply and Trading Ltd" for manipulating product prices in technical sulfur sales through stock trading. Another case was initiated against JSC "Maxam-Chirchiq" due to unjustified price increases in the mineral fertilizers market.
Live
All
