The measures of "Progressive Bulgaria" will deal with prices. We saw that in recent months we had very good analyses, but nothing followed from them. The efficiency of the regulators is not good.
„The legislative changes aim to fix the legislation and in practice give more powers and totally clarify the sector in terms of pricing and for the regulators to do their job“, Yavor Gechev, MP from "Progressive Bulgaria", told "This Morning" on bTV.
We will clean up the chain - there will be no payment for 90% advertising and 10% product. We are not limiting prices, but the regulators will work, he added.
"Arranging and clarifying the sector - this will provide a good platform over time for prices." And he predicted a "slight" reduction in prices in stores.
The economy may be free and market-based, but it can also be distorted, Gechev revealed.
"We do not want to hit the chains, we want tolerance from them for suppliers and manufacturers." The envisaged penalties - up to 10% of the annual turnover, Yavor Gechev announced.
According to him, the CPC's analyses show "distortion of the competitive environment", but nothing has followed from this. There is no effectiveness.
„Currently, the analyses are extremely good. If you look at the addressing of the legislation, you will see that one thing was missing in the analyses – and it is not just the market environment, but the legal deficit that allows them to do their job“, Gechev pointed out.
He pointed out that in the law on protection of competition we have added a direct recording of unfair trade practices.
Gechev explained that the law directly records a number of unfair trade practices.
„We are cleaning up the entire chain that allows them to sell you 90% advertising and 10% product“, he pointed out.
According to him, the goal is to organize and clarify the sector.
„The same chains in different regions have different policies and they are related to the legislation. It's a smaller market here, but the oil that we always give as an example cannot be two and a half times cheaper in the center of Paris than in the Bulgarian network - of the same brand," Gechev commented.
"We don't want to hit the chains. We don't want them to do anything except follow the rules and be tolerant of their own suppliers and ultimately consumers," he added.
"Progressive Bulgaria" has introduced legislative changes in parliament with which they will try to control the rise in prices. There will be no price ceiling and markups, but a fair price will be introduced.
And the fines that the Consumer Protection Commission imposes are doubling, and the law on the introduction of the euro will last until the summer of 2027. When is it realistic for the proposals to come into effect and what will be the effect on the market?