COMPANIES SHOULD BE FINED IN AMOUNT OF 5% OF THEIR INCOMES IN CASE OF ANTICOMPETITIVE AGREEMENT, ABGAR YEGHOYAN PROPOSES

Noyan Tapan
Oct 24, 2007

YEREVAN, OCTOBER 24, NOYAN TAPAN. "Protection of Armenian Consmer
Rights" NGO will soon submit a draft law, according to which companies
should be fined in the amount of 5% (instead of 2%) of their incomes
in case of an anticompetitive agreement. The chairman of the NGO
Abgar Yeghoyan suggested at the October 24 press conference that
part of the fine should be transferred to the state budget, while
the remaining part should be used to conduct monitoring and raise
awareness of consumers. According to him, price monitoring should have
a continuous character. The draft law also proposes reducing the period
of a market study conducted by the RA State Commission on Protection
of Economic Competition, making it 15 days instead of 3 months.

A. Yeghoyan said that in recent period, egg and butter prices have not
grown in the country not in proportion with international prices. In
his words, a fall in prices of these foodstuffs will be observed
within a month as a result of the fines imposed by the commission,
otherwise, the commission must use other penalties.