Three gas companies in Kazakhstan slapped with hefty fine for price gouging
13:07, 4 December 2015
ASTANA. KAZINFORM - Serik Zhumangarin, Chairman of the Kazakh Committee for Regulation of Natural Monopolies and Protection of Competitiveness, announced on Friday three major players of Kazakhstan's gas industry have been fined in a price fixing scandal.
Mr. Zhumangarin confirmed that KMG Onimderi, Gelious and Sinooil had been fined for over 220 million tenge for increasing prices at the pump and gouging consumers. He said the investigation came to an end on November 13 this year and the companies were slapped with the fine. Mr. Zhumangarin added that 75 investigations related to price fixing in Kazakhstan are underway.