In the next few days, the audit of seven multinational companies regarding the profit margins of their products will be completed “and, if a problem is found, we will not hesitate to impose fines”, noted the Minister of Development, Kostas Skrekas, in an interview with the Alpha television station regarding precisely in the market.
He stated that, undoubtedly, the problem of accuracy exists for consumers, but he noted that it is not only a Greek problem, but a European phenomenon, while talking about the different prices for the same products in Greece and other EU countries, including detergents and personal care items, he argued that this is a perennial problem and went on to say that what is happening in the Greek market is related to the way it operates. As he said, our market is “shallow and some have a dominant, oligopolistic position”.
At the moment, seven multinational companies are being audited, for the profit margin, and if it is found that they are making more money from 2023 than in 2021, very strong fines will be imposed and we will not hesitate to announce it, noted Mr. Skrekas.
He added that the government has a four-pronged response to inflationary pressures: firstly by supporting income, secondly by controlling the market and cracking down on profiteering, thirdly by stimulating competition and fourthly by empowering the consumer, while he added that , at the same time, we are the only European country that has imposed a ceiling on the profit margin and the only country that has imposed a fine on a multinational company “and I don’t think there is a problem of profiteering in other countries” as he added.
In addition, he referred to the permanent reduction in the price of products in supermarkets saying that “we are giving them the opportunity to reduce the prices of their products for at least six months and for at least 5%, in the next period, on the shelf, in order to help Greek households . An initiative in which, so far, 310 fast-moving products of companies, including multinationals, have joined, while new products are constantly being added.”