Competition and Fair Trading Commission (CFTC) will soon implement a strict monitoring of price controls and punish anyone found increasing prices at the expense of Malawians, amidst the coronavirus pandemic.

The above follows as a directive from President Peter Mutharika, who called on the commission to increase surveillance and protect consumers from anyone who wants to unfairly increase prices of essential goods, during the pandemic. “People who intend to take advantage of our current situation will be punished,” said Mutharika.

The directive has only strengthened what the commission was already doing, as last month, CFTC warned pharmacy shops in Lilongwe and Blantyre to immediately cease and desist excessive pricing of sanitizers, masks and gloves. A press statement from the company, the pharmacies did not adhere to the recent warning by the commission which stated that traders and companies should stop taking advantage of the global pandemic to promote certain products as cure and treatment for the coronavirus.

Meanwhile, the government will discuss with the Malawi Confederation of Chambers of Commerce and Industry and the Tourism Association of Malawi for  “win-win arrangements” that will ensure that there are no redundancies in companies.