ECONOMIC ENTITIES WARNED TO REFRAIN FROM RAISING PRICES UNFOUNDEDLY

Noyan Tapan
Dec 12 2007

YEREVAN, DECEMBER 12, NOYAN TAPAN. At the December 12 sitting, the
RA State Commission on Protection of Economic Competition warned
the economic entities with a dominating position in commodity
markets, as well as other economic entities to refrain from raising
prices unfoundedly and to revise the prices of goods they sell. The
commission made this decision, taking into account the appreciation
of the Armenian dram and the rise of prices in the previous years
before New Year.

The commission members will implement a monitoring on sale prices of
goods in commodity markets from December 15 to January 15.

To recap, last year the three biggest companies operating in the market
of hen’s eggs came to an anticompetition agreement, raising the prices
before New Year, as a result of which each company was fined in the
amount of 1% of the revenues received in the previous year.