Illegal sale of cotton worth 104 billion soums detected in Sirdarya

A company in Sirdarya region that illegally sold cotton fiber worth more than 100 billion soums under direct contracts has faced appropriate enforcement measures. The Competition Development and Consumer Protection Committee reported this.

It was noted that the committee’s Sirdarya Regional Department conducted a study into violations of legislation prohibiting actions that lead or may lead to restrictions on competition in exchange trading. As a result, it was found that White Gold Klaster LLC had sold more than 5,000 tons of cotton fiber products worth 104 billion soums under direct contracts without exchange trading.

It was also established that, by applying higher prices compared to the average exchange quotation prices formed in exchange trading, the company had received more than 700 million soums in unjustified income.

Based on the identified circumstances, the Special Commission of the regional department opened a case against White Gold Klaster LLC over signs of violation of Article 29 of the Law “On Competition” and the requirements of the regulation approved by Cabinet of Ministers Resolution No. 170. Following the review of the case, a financial penalty was imposed in accordance with the established procedure.

Earlier, it was reported that appropriate enforcement measures had been applied against a company in Surkhandarya that sold 205 tons of flour products worth 634 million soums without exchange trading.