Price Monitoring Is a Key Priority, Says Consumer Protection Commission Chair

Monitoring prices is a key priority, said Alexander Kolyachev in an interview on the programme “More from the Day” on June 11.

Alexander Kolyachev, Chair of the Consumer Protection Commission: “The economic situation in the country is such that price monitoring is a key priority in order to prevent unjustified increases. Our law is part of a package of measures that will lead to the stabilisation of market processes.”

He emphasised that, until now, there had been no legal provision regulating relationships further back along the supply chain.

Alexander Kolyachev: “Until now there was no legal norm regulating relations further back along the chain. The individual trader provided an economic justification for increasing the supply price, which justification was applicable and we complied with it. It is very positive that the law on the Commission for Consumer Protection and the law on the Commission for Protection of Competition were passed at the same time, so that these bodies can support each other and identify where there is market distortion, if any.”

He also explained the main differences between the current legislation and the law introducing the euro.

Alexander Kolyachev: “The sanctions are different. They are doubled for legal entities and reduced for individuals. The sanctions are sufficiently deterrent and we believe they will lead to price stabilisation among traders, if such behaviour is unjustified.”