Friday, March 29, 2024
Text Size

CFTC commemorates World Competition Day

Executive DirectorThe Competition and Fair Trading Commission (CFTC) has said proper functioning of public procurement will enhance Malawi’s economy by generating effective demand and consumption.

 

The sentiments were made by CFTC Executive Director, Mrs Charlotte Wezi Malonda, in a statement to mark World Competition Day which falls on 5th December every year. This year’s theme is Competition Issues in Public Procurement.

 

Mrs Malonda said public procurement is an important aspect that enables government to purchase goods and services necessary for enhancing service delivery to the general public.

 

Said Malonda:

 

“Vigorous competition amongst suppliers helps governments to achieve efficiency and obtain value for money in public procurement. Efficient procurement means to procure best possible goods and services at competitively low prices. Conversely, when competition is curtailed, more than fair price is paid for lower quality and public funds are wasted.

 

“This has adverse economic implications such as loss of efficiency and diversion of funds from development programmes. It is therefore important that the procurement process is not distorted by practices such as bid rigging, collusion, lack of competitive neutrality, abuse of dominance etc”.

Notes for Editors

1.  The United Nations General Assembly (UNGA) adopted a set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices on 5th December 1980. Since then, Competition authorities across the globe designated 5th December as a special day to commemorate World Competition Day.

2.  The primary aim of commemorating World Competition Day is to raise mass awareness to consumers, business enterprises and Government officials on the benefits of a competitive market structure as well as the harmful effects of anti-competitive behaviour not only at national but also at international level. 

3. Competition law typically prohibits any agreements, arrangements or understanding between independent enterprises that has the object or effect of substantially lessening competition or limiting access to the market. The prohibition of anti-competitive agreements covers a wide range of restrictive business practices. Amongst the most serious breaches of the law are cartels involving price fixing, collusive tendering and market sharing.

News

Complaints Form

You can post a quick consumer complaint by filling the form below. Alternatively, Click here to download our complaints form which you can fill and drop at our offices (view map) or email to consumer@cftc.mw.

Full Name (*)

Please type your full name.
E-mail (*)

Invalid email address.
Tel/ Mobile

Invalid Input
Address

Invalid Input

Company/ Institution Involved

Invalid Input
Its Physical or Postal Address

Invalid Input
Details of Complaint

Invalid Input


Please let us know how and when to contact you.

How should we contact you?


When would you like to be contacted? (*)

Please select a date when we should contact you.

  

CFTC – Just Competition, Fair Trading

Consumer Complaints

Click here to download our complaints form which you can fill and drop at our offices (view map) or email to consumer@cftc.mw.