State Competition Committee to determine monopoly prices
02/09/2013 17:53
State Competition Committee to determine monopoly prices
02/09/2013 17:53
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekisan approved a regulation on order of determining monopoly high and monopoly low prices at financial markets to improve state regulation in the area of competition in goods and financial markets.
The regulation will regulate activities of entities, which dominate in financial market. The document will regulate activities of the banking and credit sector, insurance and securities market of Uzbekistan.
The State Committee of the Republic of Uzbekistan for privatization, demonopolization and development of competition will determine monopoly high and low prices for services of the financial market.
The regulation said that high prices for services in financial market is determined via comparison of prices for services, set by the participants of the economic entities and groups, working in financial service market. If the prices are higher than 10% of the average prices in the market, it will mean that it is monopoly high prices. This criteria will be used if there are 2 or more entities or groups in the market.
If there is one entity or group in the market, the monopoly high price will be the price, which exceeds sum necessary to render services and cover expenses, as well as giving unfounded high income to the entity.
Monopoly low price is the price, set by the entities or groups, dominating in the market, which do not cover expenses, necessary to render services and does not envisage to receive income. This can limit competition in the market and other consequences, violating competition laws.
The State Committee of the Republic of Uzbekistan for privatization, demonopolization and development of competition opens anti-trust case and adopts decision on elimination use of monopoly high and low prices in the market if they reveal use of monopoly high and low prices in the financial services market.
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