Profit margin on face masks capped at 15%

The profit margin on disposable masks has been capped  at 15 percent says an Executive Decree No, published in the Official Gazette, on Wednesday, May 13

The measure is established for a period of three months

The maximum profit margin of face masks in retail stores was previously set at 23%, on  March 13. but since it has become an article of mandatory use for people when they leave home, the adjustment had to be made.

The decree also extends the profit margin of up to 23% by three months, for products such as antibacterial; alcoholic gels; alcohol for external use; liquid or stick antibacterial soaps; disinfectants for household use; vitamin C; disposable gloves and damp cloths among others in retail stores.

The Authority for Consumer Protection and Defense of Competition (Acodeco) will ensure compliance with the  decree

According to an Acodeco report, to date, six businesses have been fined $29,000 after failing to comply with the price control measure on 11 personal hygiene, cleaning, and consumer staples.

The fines can go up to $ 10,000, it all depends on the size of the company.