03 July 2022,   20:53
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Prime Minister commissions Competition Agency to scrutinize fuel market and report by May 15

With an initiative of the Prime Minister of Georgia, the Competition Agency will scrutinize the current situation in view of fuel prices and will report to the Economic Council by May 15, 2022.

The referred decision was made at the Economic Council Meeting held by Irakli Garibashvili.

Irakli Lekvinadze, Head of the National Competition Agency briefed the Council Members about the fuel pricing trends for the past 3 months. Report was discussed and decided to commission the Agency to continue its observation on the fuel market and come up with comprehensive recommendations to facilitate a healthy competition on the market.

In addition, Council Members also discussed the current position of the pharmaceutical market. Active implementation of reforms on the grounds of the Expertise Opinion released by the National Competition Agency was deemed positive as prices are declining on the medication in high demand among the public. It was also noted that greater access to medication has been significantly boosted by the exposure to the Turkish market with an initiative of the Prime Minister of Georgia, as a result of which over 250 most demanded medication can be acquired at a price 70-80% cheaper. In addition, an electronic and generic prescription system has been introduced in the country to further increase the transparency at the pharmaceutical market.

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