Yerevan/Mediamax/. Armenian government will regulate price-making policy for essential products.

Mediamax reports that the government approved at its session today the corresponding amendments to the law on “Trade and Services”, providing for governmental interference in price-formation in the course of 90 days.

Armenian Prime Minister Tigran Sargsian stated that the new order is widely spread in international practice and is used if the prices are increased for essentials by 30% and more in the course of 30 days.

“This is a temporary measure, which will allow getting rid of the fuss and putting the market into proper order. This mechanism will have a positive influence on the participants of the market, which further on will refrain from making a fuss and using speculations, knowing that the state will apply a strict tool”, Tigran Sargsian stated.

According to him, this decision will allow replenishing the instruments of the government in conditions of high inflation.

The new amendments provide for calculation and establishment of the maximum price for essential goods by the Committee for the Protection of Economic Competition, if the price has increased by 30% and more in the course of 30 days.