NATIONAL BOARD ON FUEL PRICES MANAGEMENT
The rising fuel prices throughout Europe are directly linked to the consequences of Russia’s aggression on Ukraine.
The extraordinary situation in the face of rising fuel and commodity prices requires the government’s direct intervention in freezing profit margins and calling for price transparency and this is the reason why the government decided to immediately set up the National Board on the Management of Fuel.
The government will intervene together with the citizens to regulate management of fuel supplies through the National Board on the Management of Fuel that includes representatives from the Finance and Economy Ministry, Infrastructure and Energy Ministry, the Directorate of Tax and Customs, the head of the Competition Authority, and representatives of major oil suppliers in the country, as well as five representatives appointed by the citizens.
TRANSPARENCY BOARD ON PRICES OF BASIC FOOD ITEMS
On March 18, the government proposed establishment of a Transparency Board for prices of basic food items. The Board is tasked with monitoring the production costs for all wholesale and retail trade companies, setting and maintaining prices, monitoring trade units and companies in order to avoid cases of speculations with prices of basic food items, accounting for the largest share of consume by low-income families, namely rice, flour, milk, cooking oil, sugar.
Any businesses found abusing the prices set by the Board will see their licence revoked and their stock of goods confiscated.
