Minister of Internal and External Trade Tomislav Momirović announced that the Competition Protection Commission’s investigation into four retail chains for suspected price-fixing could lead to substantial fines and potentially the closure of these companies.
“The Commission has initiated a serious procedure. Anything I say would be inappropriate, as it interferes with the independence of this regulatory body, which was established on our path to the EU,” Momirović stated during an interview with RTS, referring to the investigation involving Delhaize, Merkator S, DIS and Univerexport.
He emphasized the importance of observing the outcome of the proceedings, noting that it is critical for the public interest. “We all have a stake in this, and any additional comments might politicize a serious issue. We expect concrete outcomes”, he added.
Regarding the continuation of the “Best Price” initiative, which follows the “Better Price” campaign launched during a period of inflation exceeding 14%, Momirović highlighted the success in bringing inflation down to about four percent. He noted that consumers can save up to 25,000 dinars monthly by purchasing items under this initiative.
Ministry to tighten regulations on betting advertisements
Minister Momirović also announced plans to restrict advertising by betting companies, limiting their visibility on billboards and in print media, with exceptions for sports-related content. “Public figures will no longer be allowed to promote betting or encourage gambling”, he stated.
Prime Minister anticipates report on retail margins and pharmaceutical pricing controls
Prime Minister Miloš Vučević indicated that a preliminary report from the Competition Protection Commission regarding retail margins is expected soon. He also mentioned that there would be a review of pharmaceutical pricing practices.
“The state does not view retail chains as enemies but aims for price formation that aligns with market regulations”, Vučević explained, stressing that the government will not tolerate excessive profits at the expense of citizens’ living standards. He highlighted that the annual turnover in Serbian retail exceeds five billion euros, nearly a third of the national budget.
Vučević called for fairness in business practices, urging retailers to be transparent with their pricing. He reassured citizens that the government will maintain oversight to prevent price gouging and inflation.
The Prime Minister emphasized that the investigation into retail practices stems from significant indicators of price-fixing. He stated, “We will ensure that citizens can see how prices are formed and the various factors that affect discounts offered to retailers.”
Both Vučević and Momirović underscored the government’s commitment to protecting consumers while fostering a fair business environment.
