Tuesday, July 16 2024

Minister vows big fines for face mask price-gouging

Minister vows big fines for face mask price-gouging

Cases have been reported of price-gouging in protective masks, especially the KN-95 enhanced protection masks.

Development and Investment Minister Adonis Georgiadis told Skai TV station that there will be detailed inspection and the fines imposed could reach up to €1 million.

Georgiadis said that the government has passed a law preventing, until June 30, 2022 profit margins in items such as food, masks, gloves and anti-bacterial ointments from rising more than 20% above their February 2020 levels, i.e. before the outbreak of the coronavirus pandemic.

“We have already imposed big fines on those who dared to flout the law,” Georgiadis said and make a reference to a specific store, which has lifted the price of enhanced protection (KN 95) masks by 42% since the government announced new measures requiring those masks, or a double regular mask, in transportation, earlier this week. “He’d better cut his prices because the fines are coming Monday,” he said.