From mid -April compulsory publication of prices on market websites

According to the amendments to the Law on Consumer Protection, starting in mid -April, traders will have a mandatory obligation to publish the prices of all products on their websites, and in the next ten days the rulebooks will be published on how they should be published, the Minister of Economy and Labor Basar Durmishi said. He underlined that the State Market Inspectorate would also go out for markets that would not comply with the decision, the penalties will range from 500 to 10,000 euros, and even to closing the markets for 15 days.

-Due to the rise in the prices of basic food productions and stabilization of inflation, at the beginning of the week, the Assembly voted for amendments to the Consumer Protection Act. With these changes, traders, starting in mid -April, will have a mandatory obligation to post the prices of all products on their websites. The law, which we expect to be published in the Official Gazette these days, stipulates within 45 days, from the date of entry into force, traders on their websites to publish the prices of all products they sell in their stores- Durmishi said at today's press conference.

He informed that in the next ten days the rulebooks that will prescribe how the prices will be announced by the traders will need to be published. Note that these legislative changes expect greater transparency of market prices, improved competitiveness and price reductions.

-Citizens will now be able to choose where they will spend their money. They will know every product at which market and at what price is sold. They can choose which product to take and from what market. This measure will also contribute to increased competitiveness between traders and lowering product prices. Consumers will be fully informed about what product costs -Durmishi added.

As he underlined, this law refers to small and medium -sized enterprises, it does not cover the microtics and sole proprietors, ie neighborhood shops.

« This legislative amendment comes after last week the government, on the proposal of the Ministry of Economy and Labor, made a decision to limit the margins to 120 groups of basic food products and hygiene products, as well as to limit the products to eight groups of the most eligible food products, » the minister said.

As previously informed, these two measures are already in force and will last until April 30, and the upcoming holidays will be covered.

-The decision to limit the gross profit margin of wholesale and retail of 120 product groups or over a thousand food and non -food products covers five percent gross profit margin of the basic eight food products -milk, bread, flour, eggs, oil, yogurt. Ten percent gross profit margin of foodstuffs covering a group of 55 foodstuffs – meat and meat processing, sugar, dairy products, margarine, butter, canned vegetables and fruits, beans, rice, pasta and others. Fifteen percent gross profit margin of 39 foodstuffs- fresh fruits and vegetables, detergents, baby food, diapers, soap, toilet paper- said Durmishi.

As he noted, the State Market Inspectorate is on the ground and inspectors act upon the decision whether the markets have agreed their prices on the shelves.

Note that by the end of this week it is envisaged to oversee over a thousand commercial buildings across the country, after which the State Market Inspectorate will come up with data on possible disregard by certain markets.

-If there are markets that do not respect the government's decision, the penalties will range from 500 to 10 thousand euros, and even to the closure of markets for 15 days. Expectations are that prices will drop by an average of about 10 percent, which will affect the stabilization of inflation and protect the standard of living of the citizens- added Durmishi.