Gov't OKs action plan to suppress artificial hike in prices
The State Service for Antimonopoly Policy and Consumer Rights’ Protection under the Ministry of Economy and Industry of Azerbaijan in cooperation with the General Directorate for Combating Corruption under the Prosecutor General’s Office of Azerbaijan has approved an action plan for the suppression of facts of artificial overpricing and creating shortage of goods, as well as other cases.
These facts are related to the decision of the Central Bank of Azerbaijan.
The Central Bank of Azerbaijan switched to the floating rate of the national currency (manat) from Dec.21, 2015. As a result, the exchange rate of the US dollar and euro to manat rose by 47.6 percent and 47.9 percent and stood at 1.55 manats and 1.685 manats, respectively on the mentioned day.
The action plan provides for joint operations, intensive exchange of information, bringing offenders to administrative, civil, criminal and disciplinary liability, organization of educational work with entrepreneurs and so on.
The State Service for Antimonopoly Policy and Consumer Rights’ Protection and the General Directorate for Combating Corruption under the Prosecutor General’s Office of Azerbaijan recommend entrepreneurs, trade enterprises and objects not to abuse the law in connection with the changes in the exchange rate of the manat.
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