20/08/2003 10:26
In an attempt to eliminate profiteering, the Ministry of Commerce, Industry and Tourism decided on Wednesday to promote a bill for a price ceiling on various products in Cyprus. The relevant bill is being prepared by the consumer protection service, after instructions given by the Commerce Minister, Giorgos Lillikas.
The new bill is expected to limit the excessive price variations and overcharges that usually take place in the seaside regions of the island, while Mr. Lillikas has expressed his decisiveness to bring forward all the relevant legislations that had been put away due to the island’s accession in the EU.
“Unfortunately, Cyprus’ accession in the EU forced us to abolish a number of legislations, leaving the market operating freely. I have requested by the consumers protection service to examine whether a price ceiling on all products would be feasible. Should this is in accordance with the Community Acquis, we will set the bill under the Parliament’s approval”, Mr. Lillikas noted.
The new bill is expected to limit the excessive price variations and overcharges that usually take place in the seaside regions of the island, while Mr. Lillikas has expressed his decisiveness to bring forward all the relevant legislations that had been put away due to the island’s accession in the EU.
“Unfortunately, Cyprus’ accession in the EU forced us to abolish a number of legislations, leaving the market operating freely. I have requested by the consumers protection service to examine whether a price ceiling on all products would be feasible. Should this is in accordance with the Community Acquis, we will set the bill under the Parliament’s approval”, Mr. Lillikas noted.
Related Articles
