Competition Committee Fines “Namangan To‘qimachi Cluster” for Violating Exchange Trading Rules

Tashkent, Uzbekistan (UzDaily.com) — The Competition Committee of the Republic of Uzbekistan has taken action against LLC “Namangan To‘qimachi Cluster” for violating competition laws during exchange trading activities.

In accordance with Presidential Decree No. 4484 dated 8 October 2019, “On Measures to Improve the Efficiency of Commodity Exchanges and Refine Exchange Trading Mechanisms,” the Committee maintains continuous oversight over the listing of highly liquid and monopolized goods on exchange markets.

During monitoring carried out by the Committee’s territorial office in Namangan region, it was found that “Namangan To‘qimachi Cluster” LLC failed to fulfill its obligations as a cluster textile company. Specifically, a highly liquid product — cotton linters — was not presented for exchange trading within the prescribed deadlines and volumes.

Following the inspection, a Special Commission initiated proceedings against the company for non-compliance with Article 29 of the Law “On Competition” and the Regulation approved by Cabinet of Ministers Resolution No. 170. “Namangan To‘qimachi Cluster” LLC was subjected to a financial penalty in accordance with established procedures and received a mandatory order to rectify the identified violations and ensure they do not recur.