DON’T DO IT, OTHERWISE YOU WILL BE FINED, COMMITTEE WARNS
Panorama.am
16:54 12/12/2007
The Economic Competition Protection State Committee warned economic
entities today to refrain from raising the prices close to Christmas
by entering into anti-competition arrangements. Ashot Shahnazaryan,
committee chairman, told the session today they are researching the
market both in terms of prices and anti-competition arrangements
taking into consideration the depreciation of the dollar.
The committee will conduct a monitoring of prices from December
15 to January 15 and will announce the results on January 20,
2008. Shahnazaryan said in case of ungrounded prices the committee
will fine the companies.
It must be recalled that in 2006 three big companies entered into
an anti-competition arrangement and raised the prices of egg. By
the committee decision, these companies were fined in the amount
of 1 percent of profit gained in 2005. Today the law dictates that
the companies will be fined in the amount of 2 percent of their
profit. This provision has been applied against companies importing
natural oil and butter.