Algeria set to tighten legal arsenal against speculation

The members of the national popular Assembly started Monday debating a set of newly-devised competition regulations as part of a draft law which is expected to strengthen the financial penalties against those traders involved in speculation practices.

Fines reaching up to 8% of the yearly turnover garnered by offending traders are provided for in this new piece of legislation whose main objective is to stamp out all future speculation practices on the Algerian market.

These heavy fines could reach up to 6 million dinars as part of a deterrent strategy to check this widespread trading phenomenon which has had, up to now, a devastating impact on the citizens’ purchasing power.

The Algerian parliamentarians are also expected, during their freewheeling debate, to urge the relevant ministerial departments to reinforce the regular controls on the ground by specialised inspectors in order to pave the way for the all-out implementation of the law on the matter.