Director General of the General Administration for Competition, Abu Farha, to SadaNews: "We are working on preparing the executive regulations for the Competition Law in preparation for its implementation"

Sada Economy - "The Competition Law is considered one of the most important legal pillars aimed at protecting the market from monopolistic practices and collusions between companies that may lead to reducing or restricting free competition," said Jamal Abu Farha, Director General of the General Administration for Competition at the Ministry of Economy, during his talk to Sada Economy.

He continued: "The law is based on preventing monopoly, illegal price fixing, or agreements between companies to eliminate competition. When implemented, the law helps ensure that companies compete fairly, which contributes to improving quality and reducing prices," explaining that companies and institutions in violation will be given a grace period of 6 months to rectify their situations, and that "if they fail, legal action will be taken against them."

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He added: "On the twenty-seventh of November, the law will begin to be implemented, and we are currently working on preparing the executive regulations to enforce this law and forming an independent committee to ensure the integrity of the inspections in this regard."

Abu Farha also confirmed that the law will be applied to all economic sectors without exception, adding: "No one is above the law, whether a large or small company. Competitive justice is the cornerstone on which we build the future of our Palestinian economy."