A legal expert explains the penalty for price speculation
A legal expert explains the penalty for price speculation
2-27-2024
Information / Baghdad…
Legal expert Ali Jaber Al-Tamimi explained the legal punishment for price speculators, pointing out that the penalties are not a deterrent and need to be reviewed to be more severe to confront food terrorism.
Al-Tamimi told Al-Maalouma, “Consumer Protection Law No. 1 of 2010 punishes with imprisonment for 3 months and a fine of up to one million dinars for fraud, fraud, misleading, substituting the validity or packaging of materials with fraud, and under this law, the Consumer Protection Council was formed, which is linked to the Council of Ministers and also follow-up committees.” The law gave a reward to anyone who reported these crimes, amounting to one million dinars.
He added, “The penalties in this law are not deterrent and need to be high, because this type of crime is food terrorism, and requires increased control over outlets, as well as shops and markets.”
He stated that “the above-mentioned law needs to be amended to deter crimes in order for it to be a right that protects the consumer.”
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