The Bangladesh Competition Commission (BCC) on Monday fined two companies Tk 8.44 crore on the charge of abnormally hiking the price of broiler chicken.
Of the two institutions, the commission fined Kazi Farms Tk 5 crore and Suguna Food and Feeds Tk 3.44 crore in two cases, BCC said at a press release on Monday night.
It said the companies were fined for violating Section 15 of the Competition Act, 2012.
However, the two companies will have the opportunity to appeal against the verdict to the commerce ministry.
Earlier, the commission filed cases against the companies in the last year, accusing them of creating an artificial crisis that led to abnormal hike in the prices of items like rice, flour, eggs, poultry and toiletries.
The commission operates under the commerce ministry and is empowered to probe, try, and punish errant companies for breaching competition laws. The commission operates under Competition Act, 2012, which allows to dispose of cases without going to a court.