ARMENIAN REGULATORY COMMISSION INITIATES ADMINISTRATIVE PROCEEDINGS
ARKA
March 6, 2009
YEREVAN, March 6. /ARKA/. The RA Public Services Regulatory Commission
has initiated administrative proceedings in connection with unjustified
price rise on four commodities markets.
Commission Chairman Ashot Shahnazaryan reported that monitoring
conducted by the Commission revealed disproportionate price
fluctuations. "We receive similar signals from almost all the Armenian
regions. We register and deal with them. After summing up the results,
we considered it advisable to initiate administrative proceedings
on the market of vegetable oil and butter, household appliances and
medicines," Shahnazaryan told a press conference.
He said that the Commission received numerous signals about price
fluctuations on the medicines market. The fluctuations were quite
serious, without any economic reasons.
Shahnazaryan added that, as a result of negotiations, sugar was
purchased at 250 AMD for 1kg in the Armenian regions yesterday evening
against the previous 270 AMD. Shahnazaryan stressed that 300 AMD for
1kg is an inadmissible price limit for the Commission.
"At present appreciable downward trends are to be observed in shops. We
have a list of shops, including those in the Armenian regions, which
allowed disproportionate price rise, and we will present it to the RA
Public Revenues Committee," Shahnazaryan said. He reported that the
Commission is going to institute furth er proceedings on commodities
markets.
Specifically, fluctuations of prices for bread have been registered
in some Armenian regions, and the Commission intends to focus its
attention on this market.
Shahnazaryan stressed that some stores either did not raise prices
or the price rise was not high. Among the stores are the following
store chains: Yeritsyan, SAS, Star, Yerevan City, as well as Parma.
This Tuesday the CBA Board took into account the gradually worsening
trade conditions amid the present global economic and financial
crisis, as well as lower capital flow rates, and decided to restrict
its interventions in the currency market thereby reverting to its
floating exchange rate policy. CBA experts believe that the USD
average exchange rate will be 360-380 AMD/$1 this year.