Bulgarian Parliament Fails to Defeat President's Competition Act Veto
Lawmakers upheld a veto on amendments to the Competition Protection Act imposed by Bulgaria's President Rosen Plevneliev.
Friday's vote was the first time the current Parliament did not reject a presidential veto, with a total of nine motions (including the successful one) having been issued in just over a year.
Majority was secured by MPs from center-right opposition GERB, with government partners from BSP and DPS defending legislative changes.
The proposed amendments, planned to affect retail chains, were purportedly aimed at eradicating dishonest commercial practices.
The term "stronger negotiating position" was to be introduced, and a chain could be facing a fine of up to 10 percent of its turnover if an abuse was found out.
It was also envisaged that retailers with a turnover of more than BGN 50 M (EUR 25 M) yearly be forced to sign uniform contracts with their suppliers.
Plevneliev, however, argued in his motives to veto the bill that they could only push prices up.
He also believes the impact of amendments on consumers had not been taken into consideration, a point of view retailers (and the World Bank as well) have shared.
An absolute majority of MPs, or 121 out of 240, is needed to overcome a presidential veto, a number which the Bulgarian Socialist Party (BSP) and the Movement for Rights and Freedoms (DPS) failed to match on Friday.
- » Bulgaria Expects 10% Rise in Tourist Numbers in Summer 2016
- » Bulgaria Says Gas Link with Romania to Be Completed in Autumn 2016
- » Bulgaria Says China Proposing to Invest USD 100 M in Car Wheel Plant in Ruse
- » Ukraine, Romania, Bulgaria to Test Bi-Directional Gas Flows by Year's End
- » Bulgaria’s Jan-May Current Account Balance Turns to Surplus
- » Bulgaria to Pay Debts to 2 Airports Put Up for Concession