'Some firms start stockpiling activities after current crisis'

Faik Yılmaz, the head of ISTOSEB, said in his statement regarding the depreciation in Turkish lira that they have detected that some business firms and wholesalers began stockpiling activities in Turkey
Tuesday, 14 August 2018 23:28

"We have detected that some business firms and wholesalers started to stockpiling ─ which is an old habit in the market and a crime by law. Some of these commercial companies do not sell certain products on purpose and try to derive improper personal benefits by taking advantage of recent fluctuations in the Turkish economy," the Istanbul Union of Chambers of Merchants and Craftsmen (ISTOSEB) said in its statement on August 14.  

Faik Yılmaz, the head of ISTOSEB, said in his statement regarding the depreciation in Turkish lira that they have detected that some business firms and wholesalers began stockpiling activities in Turkey.

The Turkish government has power to eliminate these attacks by taking all necessary measures. At this point, of course, both businessmen and traders should take on responsibility, as our President Recep Tayyip Erdoğan said. These problems cannot be solved solely by assigning all the burden to the state," Yılmaz said.

"We have detected that some business firms and wholesalers started stockpiling ─ which is an old habit in the market and a crime by law. Some of these commercial companies do not sell certain products on purpose and try to derive an improper personal benefits by taking advantage of recent fluctuations in the Turkish economy," Yılmaz added.

'STAPLE FOOD AND TEXTILE PRODUCTS ARE STOCKPILING’

Based on the unconfirmed information they received, Yılmaz said that "Some firms are stockpiling staple food and textile products."

Faik Yılmaz, who did not disclose the names of these business firms and wholesalers, stated that if the stockpiling activities continue they will announce the names of the institutions involved in stockpiling.