News2020.04.17 14:29

Lithuanian president vetoes price controls

BNS 2020.04.17 14:29

Lithuanian President Gitanas Nausėda has vetoed a legislative package that would have allowed the government to regulate prices.

Price controls by the state, according to the president, is an extraordinary measure acceptable only in exceptional circumstances, for example, in case of a state of emergency.

The laws, passed by the parliament last week, would have allowed the government to regulate prices and supply of essential goods during quarantines.

Read more: New law allows Lithuanian government to regulate prices

“Practice has shown many times that stabilising prices is possible not through restrictions, but through increasing the supply of goods and services and eliminating bureaucratic obstacles,” the president was quoted in a statement on Friday.

Under the decree signed by Nausėda, the package of amendments to several laws should be sent back to the parliament for revision.

LRT has been certified according to the Journalism Trust Initiative Programme

Newest, Most read