Majority of Markets Failed Integrity Checks According to MART - New Legislative Measures
In a bid to address the pervasive issues plaguing the Belarusian market, Deputy Minister Natalia Vasilevskaya has spearheaded an initiative to amend the rules for market operation. The draft decree, presented on June 24, aims to strengthen the accountability of market administrations and sellers, and is part of a larger effort to address the numerous violations found on trading objects.
The proposed changes are designed to address the shortcomings of market administrations, with the draft decree granting expanded powers to oversee market activities more effectively. This likely includes enhanced supervisory and enforcement authorities, enabling administrations to regulate market operations more stringently.
Sellers, whether legal entities or individual entrepreneurs, will be required to justify prices for goods or services they offer. This increased regulatory scrutiny on pricing practices is intended to prevent unfair pricing or price gouging, and formalize and strengthen oversight mechanisms to ensure compliance with established rules on pricing and market conduct.
The draft decree also intends to increase the accountability of market administrations, with proposals to monitor sellers' compliance with legal requirements on prices and pricing. However, the exact procedural or enforcement mechanisms in the draft decree were not explicitly outlined in the available sources.
Approximately 70% of businesses in Belarus have violations, according to Deputy Minister Vasilevskaya. The changes are in response to these violations, which are mostly minor and stem from the shortcomings of market administrations. The draft decree is currently open for public discussion.
The draft decree is intended to bring order to Belarusian markets, addressing the issue of significant price differences between stores and markets, as noted by Deputy Minister Vasilevskaya. Sellers will be required to have a justification document for the calculation of retail prices for goods subject to trade markups at each trading point.
However, the draft decree does not specify any new penalties for violations of the proposed regulations. It's worth noting that the draft decree does not mention any changes to the powers of the Department of Antimonopoly Regulation and Trade in Belarus.
The draft decree is a significant step towards tightening market supervision in Belarus, reflecting a broader trend in regulatory reform. For precise details, official Belarusian government publications or statements from the State Administration for Market Regulation would be authoritative. If required, further assistance can be provided in finding the official text or more specific summaries once they are publicly available.
- The draft decree, open for public discussion, aims to strengthen the financial accountability of market administrations and sellers in Belarus, as part of a larger effort to address the widespread business violations observed.
- The proposed changes in policy-and-legislation aim to prevent unfair business practices, such as price gouging, by requiring sellers to justify their prices and introducing more stringent oversight mechanisms.
- Despite the draft decree's focus on market regulation, it remains unclear what specific enforcement mechanisms will be implemented or whether there are new penalties for violations.
