site.btaProgressive Bulgaria Submits Legislation Against Unfair Trade Practices, Opposition Says Measures Are Insufficient, Good Start

Progressive Bulgaria (PB) has submitted two bills to Parliament aimed at eliminating unfair trade practices and tackling price inflation. Opposition parties described the proposals as a good starting point for debate, but insufficient. According to the draft agenda of Tuesday’s sitting of the ad hoc parliamentary budget and finance committee, lawmakers are expected to review the bills at first reading.

One of the bills proposes amendments to the Protection of Competition Act, while the other seeks changes to the Consumer Protection Act, MP Yavor Gechev of Progressive Bulgaria told a news briefing. Several factors are driving up prices, including the war and fuel costs, but there is also speculation by retail chains, he said. The proposed legislation aims to minimize risks and eliminate unfair trade practices that could lead to unjustified markups, he added.

Price formation in Bulgaria has two components, according to MP Konstantin Prodanov. The first concerns relations between producers, suppliers, and retail chains and falls under the authority of the Commission for the Protection of Competition. The second concerns relations between retailers and end consumers and is overseen by the Commission for Consumer Protection. To this end, Progressive Bulgaria is also proposing amendments to the Consumer Protection Act, including a one-year extension of the Euro Adoption Act, Prodanov said. “The measure would require retail chains to provide daily information on prices in their stores,” he added.

Measures proposed by the government to tackle price inflation are insufficient, but should be seen as the beginning of a broader debate, MP Martin Dimitrov of Democratic Bulgaria said at a news briefing.

The Movement for Rights and Freedoms views the measures proposed by Progressive Bulgaria (PB) as initial steps in the right direction, MP Atidzhe Alieva-Veli said, adding that the party is also preparing its own proposals.

Measures proposed by Prime Minister Rumen Radev and his Progressive Bulgaria party are “palliative” and demonstrate incompetence, Vazrazhdane party leader Kostadin Kostadinov said in a statement distributed by the party’s press office. According to Kostadinov, price controls are incompatible with a market economy. “The opposite would mean that Bulgaria has lost its status as a market economy,” he said.