News2020.03.25 19:00

Lithuania could regulate prices during quarantine – PM

BNS 2020.03.25 19:00

The Lithuanian government will be able to regulate prices during the coronavirus quarantine, Prime Minister Saulius Skvernelis said on Wednesday, adding he hoped it wouldn't come to that.

“An instrument is put in place for the so-called price regulation and monitoring, with the help of the Consumer Rights Protection Authority. The mechanism is envisaged,” he said after a Cabinet meeting.

Read more: Food price controls an option, though shortages unlikely – Lithuanian PM

According to Skvernelis, the government expects it will not have to use the measure.

“This is an instrument that we do not want to use, but if necessary, the state will not hesitate to use it,” the prime minister said.

He explained that the measure was aimed at businesses seeking to “take advantage of the emergency situation” and raising prices for necessary goods.

Lithuanian President Gitanas Nausėda has said recently that price regulation will not solve the problem of rising food prices, because price-regulated products would simply disappear from the shelves.

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