On 13th April 2020,we wrote an article revealing the sad truths happening in Malawi regarding unscrupulous pharmacies who are taking advantage of Coronavirus Pandemic and the high demand of medical essentials and supplies by overshooting their prices.
The ugly truth is that regardless the fact that Malawi Government removed all taxes on medical imports.
Some importers and retailers have not yet reduced prices on their products in hope of making a bigger killing in profits.This led us to blew the whistle on them considering the fact,a lot of Malawians are failing to afford the necessary medication,preventative and protective items in the fight against Covid-19 due to the ludicrous and exaggerated product pricing shelved by some criminalized pharmaceuticals.
On 16th April 2020.
Honorable Salim Bagus Mp who is also the responsible minister for Industry and Trade together with Competition and Fair Trade Commission CEO James Kaphale led the taskforce in the town streets of Lilongwe.
Where they toured several pharmacies such as:City Phamarcy, Maula Phamarcy, One stop Pharmacy and many others.
To their shock,they discovered face mask is going for K3,500 to K4,000 even though the wholesale price is K750 and a strip of Chloroquine 10 tablets at K30,000 instead of K2,500.
“In actual sense, the traders are overcharging with a margin of 200 to 400%.” The minister said.
Our investigative reporter spoke to the Minister,he elaborated “As of now,we have just given them a stern warning and the period is for one week.We will keep monitoring them and if they continue cheating their customers,we will fine them K500,000 and revoke their permits to trade for 6 months.”
Current Affairs Malawi Team,wishes to thank the Relevant Authorities who heard our appeal and we could have loved it big time.If they were penalized on the spot,leniency will not serve any purpose at this juncture. A STRONG MESSAGE MUST BE SENT TO TRADERS PERPETRATING MALPRACTICES DURING THESE HARD TIMES.