PM slams oil, food importers for high prices, instructs ministers to mediate for reduction
Georgian Prime Minister Irakli Garibashvili on Monday instructed ministers to work with big importers to regulate prices for food and oil products. Photo: Government press office
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Georgian Prime Minister Irakli Garibashvili on Monday criticised oil and food importers in the country for “very high profits” facilitated through prices added to the “real cost” of the products, and instructing several ministers to set up a working group to negotiate a reduction.
Speaking at the weekly Government meeting, Garibashvili stressed it was “unacceptable” to see artificial raising of the oil price by almost ₾1 ($0.4) for a litre, resulting in prices for food products featuring “nearly 100 percent added prices” for consumers.
It is wrong to gain wealth at the expense of the people”, he said, noting the importers’ attitude had been “absolutely intolerable” in contrast to the Government's efforts to ensure the growth in the state economy against ongoing regional and global challenges.
The PM instructed the ministers of economy, finance and agriculture to “rapidly” set up a working group where “all big importers” would be invited to explore options for a “proper reaction”, requesting the officials to provide a “complete picture” to him along with “appropriate solutions”.
Garibashvili pointed out his decision in 2021 to ensure a reduction of general prices of pharmaceuticals on the domestic market through imports from Turkey had also caused controversy, but eventually reduced prices by up to 80 percent, with the country’s population saving nearly ₾220 million ($83 mln) as a result.
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About 200 types of Good Manufacturing Practices (GMP)-standard drugs, imported from Turkey, will be available on the Georgian market in about a month, Deputy Health Minister Ilia Gudushauri said on Monday.
Import of medications from the Turkish market has “significantly” decreased the prices of “dozens” of medical products in Georgia, Health Minister Zurab Azarashvili said on Saturday.
Georgia’s “unprecedented” economic growth this year should be maintained and increased, Prime Minister Irakli Garibashvili said at the Government meeting on Monday.
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Georgian Prime Minister Irakli Garibashvili on Monday said he had instructed the country’s Economy Ministry to draft a bill to ensure reduction in domestic prices on food and oil.
Georgia’s economic growth, a draft law on fair trade that aims to reduce food and oil prices, and the development of countrywide spatial planning were discussed in a Government session led by Prime Minister Irakli Garibashvili on Friday.
Georgian Prime Minister Irakli Garibashvili on Friday told the country’s Parliament the Government was continuing talks with fuel importers and ensuring “everything” was done to further reduce domestic prices.
The Georgian National Competition Agency on Monday said it had started inspecting four companies in the Georgian pharmaceutical market following “sharp increase” by them in prices of medicines for chronic and oncological illnesses.
Malkhaz Dolidze, the Head of the Georgian Bread Manufacturers Union, on Tuesday said prices of the product in Georgia were not expected to increase, and added efforts were actually being made to bring them down.
Georgian authorities will lift restrictions on export of wheat in advance due to “two to three months” worth of domestic reserves of wheat and flour and expectation of the next harvest in three months’ time, Agriculture Minister Otar Shamugia said on Monday.
Five companies involved in the import and sale of fuel in Georgia have been fined ₾4 million ($1.53mln) for violating antitrust legislation by artificially maintaining high prices in the retail market, the Georgian National Competition Agency announced on Friday.