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Message: [QUOTE="Munyaradzi Mafaro, post: 50856, member: 636"] Pakistan's top business court slammed major electronics companies for rigging prices but cut their punishment money. The Competition Appellate Tribunal agreed that big appliance brands broke the law by telling dealers what prices to charge customers. Companies had forced stores to sell products at certain prices and banned them from giving discounts or special deals. The court reduced the fine by 90 million rupees after companies promised to behave better. Electronics giants must pay up within 30 days or face more trouble. The Competition Commission of Pakistan had originally busted these companies for price fixing schemes that hurt regular shoppers. Business bosses tried to control how much stores could charge for televisions, refrigerators and other household items. The companies admitted their guilt but complained that the original fine was way higher than they deserved. Court officials noted that the firms had already paid back money to dealers who got punished under the illegal pricing rules. The electronics companies also swore they would follow competition laws from here forward. The tribunal decided to go easier on the companies because they cooperated and made things right with affected dealers. Competition officials warned all businesses to stop trying to control retail prices through threats or penalties. Price fixing hurts consumers and violates Pakistani competition laws that protect fair business practices. The case shows that government watchdogs will keep hunting down companies that try to manipulate market prices. [/QUOTE]

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