Cairo-Mubasher: The Consumer Protection Agency (CPA) has decided to refer Oriental Weavers Carpet to the country's public prosecution for investigation, saying that company is engaged in monopolistic practices.

The board of CPA voted unanimously over accusing Oriental Weavers of violating the Egyptian law of protection of competition and prevention of monopoly practices.

The company will have to pay a fine of nearly EGP 300 million, if it is found guilty.

The Egyptian rug maker saw net profits of EGP 152.7 million for the first quarter of 2015, down from EGP 154.1 million for the same period of 2014.