The Republic Market Inspection Service has carried out tighter control of price formation in of trade facilities last week, which is in line with Decision on setting margins in the trade of certain products.

80 procedures have been initiated in the last week, out of which 58 are completed. In 32 cases it has been proven that traders do not follow mandated margins, and penalties of BAM 363,000 have been imposed.

Market inspectors from local self-government units were also involved for the purposes of oversight. According to recent received reports of city and municipal inspectors, in 26 they found breach of margins, and those traders were penalised in the amount of BAM 134,000.

Controls of trade facilities actually include control of price formation of several hundreds of items, because for every separate product from the Decision there are dozens of product brands of different packaging, so these are complex controls which require time.

Price formation is still in the focus of the inspection service, so we advise traders to follow mandated margins and to not put themselves at risk of being penalised. A penalty in the amount of BAM 8,000 for a legal entity, BAM 4,000 for the responsible person in a legal entity and BAM 5,000 for a business owner has been issued by the Decision if they don’t follow the mandated margins.

Also, adhering to the Decision on setting margins which is applied during price formation of petroleum derivatives remains a subject of surveillance for the Republic Market Inspection Service.