North Cyprus authorities punish traders for increasing prices of goods over coronavirus panic in the country

The TRNC Department of Trade has fined 18 businesses who took advantage of the coronavirus panic in the country to inflated the price of their products.

The agency has also launched an investigation into the activities of 33 other businesses.

Manager of the Trade Department Salih Gökpınar, said that they had received complaints that in the last four days, the price of a small bottle of water, which was 90 kuruş, had increased to 1.50 TL and domestic bottled gas prices had been hiked from 75 to 100 TL.

Gökpınar stated that his department is monitoring this situation at the moment, adding that there are people who are doing their job properly as well as those who want to abuse the situation.

The Chamber of Commerce is continuing inspections to ensure that businesses do not try and exploit the fear of the coronavirus pandemic by raising their prices.

LGC News