A €742,000 fine was imposed on the food company Ainos, a seller of frozen vegetables, by the orders of Development Minister Kostas Skrekas on Monday.
According to a ministry announcement, the fine was imposed for a violation of Article 54 of legislation passed in July 2023 to curb unjustifiable profiteering, following checks conducted by the Interagency for Market Control (DIMEA).
Following inspections of 72 product codes, it was found that the company had a higher gross profit margin than permitted by the relevant legislation.
Development Minister Kostas Skrekas stated: “The battle against high prices and price-gouging phenomena is constant and daily. The inspections will continue and intensify, and where the law dictates, high fines will be imposed. We will not rest until law and order prevail in the market. We are obligated to tackle any illegal activity and protect consumers. The government and the ministry’s only criterion is implementing the law and supporting households afflicted by inflation,” state-run news agency AMNA reported.
In a statement issued later on Monday, company Ainos said that the price controllers’ report is full of mistakes and inaccurate information and did not consider the production cost. The company added it would seek legal ways to revoke the fine and restore its reputation.
