GAC monitors markets to combat monopolies, solve complaints: Chairman

Logo of The General Authority for Competition (GAC)

The General Authority for Competition (GAC) monitors markets to combat monopolies and solve complaints filed against private establishments, or reports submitted by government and private authorities, SPA reported, citing Chairman Ahmad Al-Kholifey. 

GAC does not seek to intervene in every field, as it focuses on smooth workflow in the private sector. However, the authority should investigate all reports, Al-Kholifey said, noting that penalties imposed on violators of the competition law are decided by an independent legal committee. Violators can appeal, in case they are not convinced of the decision.  
 

The authority is not tasked with combating major trade entities that do not have any monopolistic practices, but rather aims to encourage honest and non-monopolistic business.

Al-Kholeify added that the business sector might consider GAC an obstacle to merger procedures, but the authority plays its role and aims to maintain a strong relationship and cooperation with private establishment.