Yerevan /Mediamax/. Commission for the Protection of Economic Competition (CPEC) of Armenia intents to apply serious sanctions against unfair entrepreneurs.

As the Chairman of CPEC Ashot Shahnazaryan told journalists, today the Commission held a monitoring of a number of large trade outlets and initiated talks with large importers, after which the prices for certain goods were reduced. He noted that now the situation in the foodstuffs market is calm, and the growth of prices by 10-12% is registered concerning petrol and 3 types of products – vegetable oil and butter and sugar. “I see no abuse in today’s prices”, Ashot Shahnazaryan stated.

He stressed that right after the statement of the Armenian CB on making a transition to the policy of floating exchange rate, artificial deficit was created in the market, as a result of which stress phenomena were registered in the course of 1-2 hours.

Ashot Shahnazaryan stated that the Commission will not allow economically ungrounded growth of prices, at that noting that some 4-5% more increase is yet possible.

CPEC Chairman expressed opinion that the availability of necessary volumes of petrol among importers for the nearest 3-4 months does not influence the price formation. “Importers now need to collect means to secure turnover in future; and as a result, they increased prices”, Ashot Shahnazaryan stated. He stressed that this principle is true for all products.