Turkey’s Erdogan threatens to fine ‘opportunists’ who raise prices

Turkey’s Erdogan threatens to fine ‘opportunists’ who raise prices
Turkish President Tayyip Erdogan addresses members of his AK Party in parliament in Ankara, Turkey, October 2, 2018. (Reuters/Umit Bektas)
Updated 06 October 2018

Turkey’s Erdogan threatens to fine ‘opportunists’ who raise prices

Turkey’s Erdogan threatens to fine ‘opportunists’ who raise prices

ANKARA, Oct 6 : Turkey will impose fines on “opportunists” who use volatility in the foreign exchange rate to raise prices, President Tayyip Erdogan said on Saturday.
“We will not abandon our people to the mercy of opportunists,” Erdogan told members of his ruling AK Party at a retreat on the outskirts of Ankara.
Erdogan urged Turks on Tuesday to report stores that had imposed unusual price hikes during the currency crisis, and said authorities would raid those businesses if necessary.
Erdogan added that Turkey is open to all forms of investments and support, but it has not asked any country for money, as the country grapples with a currency crisis that has sent the lira plunging in recent weeks.
The president told members of his ruling AK Party he had ordered his ministers not to receive any financial advice or consulting from US firm McKinsey, saying the government would rely on domestic capabilities instead.