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Uzbekistan taking measures to prevent artificial rise in prices of goods in domestic market

Uzbekistan Materials 18 March 2021 16:56 (UTC +04:00)
Uzbekistan taking measures to prevent artificial rise in prices of goods in domestic market

BAKU, Azerbaijan, Mar. 18

By Klavdiya Romakayeva - Trend:

Starting from June 15, 2021 the number of goods in Uzbekistan will be sold on the domestic market exclusively through exchange trading, Trend reports with reference to the press service of Uzbek Republican Commodity Exchange (UZEX).

The President of Uzbekistan signed a decree on measures to further introduce market mechanisms in the sale of highly liquid and monopoly goods.

It was noted that the decree was adopted in order to prevent the artificial rise of prices for highly liquid and monopoly goods in the domestic market by unscrupulous business entities, create a deficit and rush demand, abolish elements of the distribution system and further intensify exchange trading.

Thus, according to the decree, from June 15, 2021, goods such as polyvinyl chloride (PVC), formalin, consumer ethyl alcohol, technical ethyl alcohol, silver produced by monopolistic enterprises will be sold on the domestic market exclusively through exchange trading based on market principles.

Also, in order to ensure a balance of supply and demand in the commodity markets of the exchange, products manufactured by non-monopolistic enterprises with a state share of less than 50 percent or without a state share will be sold at open exchange auctions by the end of this year.

In particular, at least 50 percent of the products of cement producers, as well as 100 percent of the products of producers of seeds, cottonseed oil and recycled seed waste will be sold through transparent exchange trading.

It is also reported that the determination of the customs value of goods for transactions concluded by the Exchange through foreign trading platforms will be carried out only at the value specified in these transactions, which will positively affect the cost of imported goods and contribute to the stabilization of domestic prices.

According to the decree, from September 1, 2021, the transportation of goods sold through the exchange by enterprises of monopolists and state participation will be carried out through an auction on the e-logistics portal.

“This, in turn, will eliminate the problems associated with the untimely shipment of goods purchased at exchange auctions,” the message said.

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Follow the author on Twitter: @romakayeva

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