Competition Committee fines another company

A fine was imposed on "Amudaryotex" LLC for violating regulations concerning the sale of highly liquid and monopolistic products in stock market trading, according to a report from the Competition Development Committee.

The Competition and Consumer Protection Committee of the Republic of Karakalpakstan conducted an investigation into the activities of "Amudaryotex" LLC from January to June 2024, to ensure compliance with the Law on Competition.

The investigation revealed that in the first half of 2024, "Amudaryotex" LLC unlawfully obtained approximately 900 million soums by selling technical seed, cotton fiber, and cotton wool products through direct contracts, bypassing the required stock market trading as per the approved schedule.

As a result, the Special Commission of the Committee initiated legal action against "Amudaryotex" LLC for violating Article 29 of the Law "On Competition" and Regulation No. 225 of the Cabinet of Ministers.

It is worth noting that financial penalties were previously imposed on "Uztemiryulyulovchi" JSC and "Passenger Transportation Around the City" LLC for similar legal violations.