In names… Competition Authority fines five contracting firms and exposes their breaches

Al-Marsad Newspaper: The General Authority for Competition announced that financial fines were imposed on five contracting companies after they were involved in violations related to collusion in government projects. The total value of the fines amounted to 189,367 Saudi riyals, and they were distributed among the violating companies according to the following:

Muhammad Ali Afaisan Al-Yami Foundation: 91,746 Saudis

• Misfer Ali Afeisan General Contract Foundation: 73,037 rubles

• Diamond Directions Est for Standard Contract: 14,900 rubles

• Bandar Misfer Muhammad Al Awad Charter Foundation: 7,409 rubles

• Planning and Municipal Corporation for General Contract: 2,275 rubles

She explained that the fines were imposed after monitoring the difficulty of the mentioned companies in submitting unfair tenders for government projects, which is clearly a violation of the system. the competition. The Authority based its decision on Article Nineteen of the system, which aims to protect the market from monopolistic practices or violations that affect the transparency of competition.