President Vetoes Amendments To Competition Protection Act

Business | July 1, 2014, Tuesday // 12:43
Bulgaria: President Vetoes Amendments To Competition Protection Act Photo: BGNES

Bulgaria's President Rosen Plevneliev vetoed the amendments to the Competition Protection Act regarding the large retail chains, reports the bTV national channel. 

In the motives for the veto Plevneliev pointed out that he appreciates the willingness of the MPs to avert dishonest commercial practices, but have failed to consider the possible impact of the amendments on end prices and consumers. 

According to Plevneliev, it was unacceptable that those effects were not taken into consideration, as they could affect the most vulnerable social strata. 

“A significant part of the amendments are vague, which can bring chaos in the relations between the food retailers and their suppliers,” read the motives, published on the Presidency website. 

According to them, instead of averting dishonest practices, part of the amendments would impede commercial activities, which would have a negative effect on economy. 

The requirement that retailers with an annal turnover of over BGN 50 M for the preceding year prepare and publish online uniform contracts for all their suppliers is also problematic, according to Plevneliev. It was unclear why and how the MPs chose the sum BGN 50 M. The publication of the contracts online would disclose sensitive information and trade secrets, which could lead the establishment of cartels of suppliers. 

Plevneliev urged the MPs to discuss the amendments again and to “take into consideration both the rights of the business entities and the consumers.”

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: Competition Protection Act, veto, amendments, retailers, suppliers, cartels

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria