The Competition Committee accused the company “Navoiyazot” JSC, which has a dominant position in the market of mineral fertilizers, of obtaining 20.5 billion in unauthorized income through price manipulations on the stock exchange in 2021-2023. The company rejected this allegation and appealed to the court, which investigated the situation and dismissed the complaint.
The Tashkent Interdistrict Administrative Court rejected the appeal against the decision of the Competition Committee of “Navoiyazot” JSC.
According to the Committee for Economic Competition, “Navoiyazot” has a dominant position on the mineral fertilizer market. they manipulated prices by selling highly liquid and monopoly products through the exchange.
In particular, in the years 2021–2023, the company did not list mineral fertilizers (urea, ammonium sulfate, superphosphate), polyvinyl chloride (PVC) and formalin products on the stock exchange in the specified dates and volumes (a total of 57,209 tons). in the relevant tables as a result of the average price due to the artificial reduction of supply 10 percent to 50 percent increased
According to the committee, as a result of these violations, the company received a total of 20.5 billion in unauthorized income. Accordingly, the antitrust authority issued a mandatory instruction to the company.
“Navoiyazot” JSC filed a complaint with the Inter-district Administrative Court of Tashkent, requesting that it invalidate this decision and the instruction of the Competition Committee.
According to the committee, the company’s complaint was rejected by the court’s decision of July 23.
