From Armenia in brief: State authority to conduct study to prevent rise of prices

by M. T.

Published: Friday November 20, 2009

Yerevan - Armenia's State Commission for the Protection of Economic Competition will conduct a special study to prevent the possible rise in market prices of petrol, diesel fuel, drugs, natural oil, butter, eggs, and sugar for the upcoming holidays, Armenpress reported. Each year, residents complain that prices for these basic goods are artificially raised during the holiday season. The goods are imported by large companies.

During a commission session, Chair Davit Harutyunyan noted that they will conduct studies and disclose any violations of the law and that all importers will be under strict control. Those companies importing these items must present to the commission information on the amount and causes of any price increase within a two-day period, prior to price hikes for the period of November 20 - December 30. The list of importers will be placed on their site, www.competition.am, according to Mr. Harutyunyan.

The state commission will also be monitoring the pharmaceutical drug industry, as there have been price increases in that market and serious concerns with a lack of competition in this sector as well.