Minister Bolat's statement: 'We will not give any leeway to opportunists'

Minister of Trade Ömer Bolat made evaluations regarding the ministry's ongoing efforts and explained the measures taken against opportunistic attempts that may arise in the markets following the minimum wage increase announced for 2026. Bolat stated that they aim to protect price stability through both legislative regulations and field inspections.

INTERVENTION IN AUTOMOTIVE AND REAL ESTATE MANIPULATION

Expressing that they have implemented new regulations on a sectoral basis as a ministry, Bolat said that inspections have been significantly increased. Arguing that manipulative activities observed especially in the automotive and real estate sectors have been prevented, Bolat stated that practices that disrupt market balance are not being permitted.

CLOSE MONITORING OF EXORBITANT PRICES, HOARDING, AND DECEPTIVE ADVERTISING

Emphasizing that they have taken comprehensive measures against price labeling practices, exorbitant price increases, hoarding activities, and advertisements that mislead consumers, Bolat noted that the Competition Board is also conducting intensive work. In this context, Bolat shared the following information:

"The Competition Board has also worked intensively; it has imposed 12.5 billion liras in administrative fines on 211 companies in 11 months in the files it investigated. Consumer arbitration committees received 818 thousand applications this year and concluded 775 thousand of them. The decision-making process has been reduced to 3 months; it could previously take up to 6 months. Thus, disputes worth 11 billion liras were resolved, which was very important."

"THOSE WHO USE THE MINIMUM WAGE AS AN EXCUSE TO HIKE PRICES..."

Pointing out that some companies might use the announcement of the new minimum wage as a justification for price increases, Bolat reminded that the wage in question will come into effect in 2026. Emphasizing that they will maintain a determined stance on this point, Bolat used the following expressions:

"For this reason, we will not give any leeway to companies trying to hike prices or raise prices by using the minimum wage as an excuse, or to the 'smart ones' or opportunists trying to raise prices by the amount of the minimum wage increase. We are conducting intensive inspections in the field; we have been conducting inspections throughout the year. Ministry of Trade inspections continue in 81 provinces against efforts for exorbitant pricing. Our government is on duty 24/7 to protect the purchasing power of our consumers in the field, and for their welfare and peace."

News Source: 12punto