The possibility of imposing a cap on retail and wholesale prices of basic consumer goods was announced by President Nicos Anastasiades at the ceremony of the Cyprus Export Award for the year 2020.
Speaking at the Presidential Palace, the President of the Republic said, among other things, that among the decisions taken to avoid any phenomena of obscenity is the "systematic monitoring of price changes of basic consumer goods and continuous consultation with all stakeholders, so that, if and when necessary, a cap can be imposed on wholesale and retail prices. I repeat, if deemed necessary."
At the same time, the President also referred to the intensification of controls and petroleum product prices, as well as the amending Bill which expands the scope of the Minister's powers and allows for the setting of a maximum gross profit margin, which was tabled in Parliament.
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