State regulation on food prices temporary canceled in Ukraine

State regulation on food prices temporary canceled in Ukraine

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Ukrinform
A governmental pilot project on canceling price regulation on consumer goods for three months entered in force in Ukraine on October 1.

This is stipulated in government’s resolution as of September 2016, No.,656, on implementing a pilot project on temporary restrictions of government’s resolution as of December 25, 1996, No,1548, and government’s resolution as of October 17, 2007, No.1222”.

"The government has implemented a pilot project on price regulation on goods and services in the production and sale of foodstuffs. The pilot project envisages the abolition of price regulation on food products for three months, during which thorough monitoring of prices will be conducted. On its basis, a decision will be taken about future price regulation on foodstuffs,” reads the resolution.

The resolution is aimed at lowering the administrative pressure on business, eliminating excessive state interference in economic processes, developing competition and de-bureaucratization (deregulation) in the sphere of pricing.

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