The Vice Minister of Economy, Mario Salazar, together with the head of the DC, Ricardo Salazar, stated that the regulation has more than 60 articles and legislators have been asked to make 42 modifications and add 20 new provisions.

Likewise, the regulation will make it possible to adopt new market surveillance tools, such as the figure of the undercover delegate. This person, without identification or notice, will be in charge of verifying compliance with suppliers' obligations and detecting the existence of price increases.

Both officials explained that the proposal is aimed at expanding the rights of consumers, establishing more obligations for suppliers, increasing the catalog of the infringement framework and giving the Defensoría del Consumidor the power to carry out searches when there are indications that product hoarding is taking place.

The amendments to the law also seek to strengthen the economic rights of the clients of the financial sector and to address cases of over-indebtedness in the commercial sphere.

The head of the DC informed that the reforms presented are part of the World Consumer Rights Day, which has been celebrated every march 15, since 1962.

The official explained that the deputies have also been asked to give competence to the institution he directs to regulate the issue of parking charges in businesses, since they have received complaints from citizens about the arbitrary acts committed there.