Multinationals under scrutiny over pricing
The Competition Commission and the competent agencies of the Ministry of Development are investigating the pricing policies of multinational companies in the local market, as it is found that many products are sold in Greece at much higher prices than in other European countries with far greater purchasing power. Comparative price surveys for multinational products sold in Greece and other European countries are ongoing and will soon be presented.
The watchdog aims to inform consumers and put pressure via negative advertising on multinationals to reduce their prices.
For its part, the Ministry of Development is intensifying controls on the ceiling of profit margins. In fact, if it turns out that any multinationals are pricing their products more expensively in Greece compared to other European countries, they will be asked to justify this with even more details, i.e. if the higher price is attributed to the fact that it is a product with a different composition.
Violation of the ceiling on profits naturally means the imposition of fines and it is possible that we will soon see relevant announcements from the Ministry of Development that will concern multinational groups.
