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Belarus to toughen anti-monopoly legislation

MINSK, 30 November (BelTA) - The Government of Belarus will tighten anti-monopoly laws, Vice Premier of Belarus Sergei Rumas said at a joint meeting of the two chambers of the National Assembly.

Sergei Rumas recalled that recently the head of state drew attention to the inefficient anti-monopoly policy. Indeed, in Belarus there have been cases of price collusion. Therefore the anti-monopoly laws will be tightened, said Deputy Prime Minister.

Speaking about the price regulation on sugar, Sergei Rumas noted that in 2011, the prices were raised three times. Belarusian companies sustained losses by supplying sugar to the domestic market. That is why they were ready to export all their produce. Sugar was shipped to the domestic market only thanks to the government’s interference into the situation. The same was happening with milk prices. Milk supplies to the domestic market are unprofitable for Belarusian dairies as well. “What would have happened if the government had eased control? The prices would have jumped 50-60% at one blow,” he said.

Sergei Rumas stressed that it was a compulsory measure to regulate the prices. In the future the list of goods which prices are regulated by the state will be reduced.