Effectively countering the inflationary pressures on food prices is a top priority for our government. We welcome these legislative amendments because they provide the necessary tools for the government and the relevant ministries to wage an effective battle against the skyrocketing prices. The Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev told the Temporary Committee on Budget and Finance at the National Assembly. He briefed the Members of Parliament on the opinion of the Ministry of Economy, Investments and Industry on the proposed amendments to the Protection of Competition Act and the Consumer Protection Act.
During the meeting, the Minister of Economy emphasized that the Protection of Competition Act addresses all key parameters that optimize the composition and number of unfair commercial practices. According to him, this is entirely based on market principles. “The powers of the relevant regulators are increasing and strengthening. The fines for unfair commercial practices at the level of the Commission for Consumer Protection are increasing dramatically and I hope these changes will create an effective mechanism at the government level,” Minister Poulev emphasized.
The Deputy Prime Minister stated that as soon as possible he will submit a proposal to the Council of Ministers for the establishment of an interdepartmental unit for coordination with control, supervisory and regulatory price authorities. It will include as permanent members the Ministry of Finance through the NRA, the Ministry of Economy, Investments and Industry, as well as the Ministry of Agriculture and Food.
During the session, Minister Poulev pointed out that with the introduction of the coordination unit, the government will work more effectively, side by side, with independent regulators. “I hope that we will continue to have the same synchronization — effective and motivated, so as to protect the interest of the people, without trying to blame any participant in the process,” he added, while being adamant that the proposed measures are market-based and there is no violation of market principles.
The National Revenue Agency (NRA) will be the main authority in this process, where specific statistics are collected and where it has the necessary powers to cooperate with all other relevant ministries. “This is an absolutely mandatory approach in order to, first, have better interdepartmental communication at the government level, second, to have a formal platform through which to interact,” the Deputy Prime Minister emphasized.
He also noted that after the decision of the National Assembly, the resources, financial security and the capacity of the regulators — the CPC and the CCP — should be considered as the next step. “We need to make sure that they have the necessary basis to be able to effectively consider and respond to all the signals we expect as a result of these policies,” Poulev added.
The draft law amending and supplementing the Consumer Protection Act proposes the establishment of a Central Supply Chain Traceability Register. Its creation will reduce the administrative burden on businesses, improve exchanges between institutions and enable the development of electronic services through the platform.
In conclusion, Minister Poulev expressed confidence that the National Assembly will also conduct an effective judicial reform, so that all proceedings generated by regulators, as well as the imposed fines, will actually have an impact.