Colombia’s Trade Minister, Cecilia Alvarez-Correa, declared the government’s support for the Industry and Trade Superintendence’s decision to set a series of massive fines on 12 sugar producers. The Minister added that the government fully trusts the regulator’s criteria and respects its independence, noting that “there is no doubt, that the motivation behind their every action is to protect consumers by guaranteeing free competition.”
The affected sugar producers have loudly complained about the apparently exaggerated amount of the fines, which they may well argue in court. The SIC, said the Minister, will have to study and analyse the legal implications.
Commenting on the open letter sent by the sugar industry, the Minister further said that “administrative procedures cannot be revised or adjusted through meetings or correspondence with the President. No one, no matter who they are, is above the law.
Source: El Tiempo
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