The Turkish Parliament's agenda for the new week is set! Penalties for exorbitant pricing and hoarding are coming...

The General Assembly of the Grand National Assembly of Türkiye (TBMM) will begin its weekly work on Tuesday, May 21.

In the General Assembly, deliberations will continue on the Draft Law on Amendments to the Turkish Commercial Code and Certain Other Laws, which includes increasing penalties for exorbitant price hikes and hoarding.

According to the proposal, administrative fines ranging from 200 thousand liras to 1 million liras will be imposed on businesses that demand and collect fees above the licensed warehousing fee schedule or for services not included in the schedule, or that make deductions from product quantities in violation of regulations during product delivery.

The period granted for cooperatives to adapt their articles of association will be extended by another 2 years. The financial liability of the product specialized exchange or the institution authorized as a clearing center in clearing transactions will be limited to the limits they establish and the assets of the guarantee fund along with the collateral to be taken.

Those who act in violation of the provision that producers, suppliers, and retail businesses cannot make exorbitant increases in the sales price of a good or service will be subject to an administrative fine of 100 thousand liras to 1 million liras for each violation.

Those who act in violation of the provision that activities creating scarcity in the market, disrupting market balance and free competition, and preventing consumers from accessing goods cannot be engaged in, may be fined from 1 million liras to 12 million liras for each violation.

A fine of 2 thousand 200 liras will be imposed on those who do not deliver or assemble goods on time; for those who avoid the sale of goods and services, an administrative fine of 10 percent of the total sales price of the good or service, including all taxes, will be imposed, provided it is not less than 2 thousand 200 liras.

WHAT IS ON THE AGENDA OF THE COMMITTEES?

The Foreign Affairs Committee will address 16 legislative proposals regarding international agreements, including the Draft Law on the Approval of the Free Trade Agreement Between Türkiye and Ukraine and the Authorization of the President to Directly Approve Amendments to the Annexes of the Agreement.

The Parliamentary Research Commission on the İliç Mining Accident will hear from academics from Istanbul Technical University.

On Tuesday and Wednesday, the political parties with groups in Parliament will hold their group meetings.

News Source: AA