61 firms have paid total fines amounting to K11 million, a punitive measure by the Competition and Fair Trading Commission (CDTC).

During a media briefing yesterday in Lilongwe, CFTC acting executive director Apoche Itimu outlined that 56 firms were fined for being involved in unfair trading practices while five were fined for anti-competitive business practices.

Itimu also revealed that the commission is in the  process of law review to repeal the 1998 CFT Act with a new law that will provide hefty fines for offenders. Some of the fined firms are First Capital Bank, Nedbank, Speedy’s Food Industries Ltd, Blantyre Dairy Limited, SupaPesa, Agora Limited and Natpack Industries Ltd.