Price control measures and interventions are extended until 12/31/2024, while the fine for violating the provisions of the price ceiling is increased fivefold and the fine for violating the provisions prohibiting promotional actions is increased threefold, as provided for in an amendment by the Ministry of Development.
The measures
In particular, as the ministry notes in its announcement, with an amendment from Development Minister Takis Theodorikakos, the following provisions are forwarded to Parliament for a vote:
- The deadline for applying the profit margin ceiling is extended until 12/31/2024. The ceiling is the gross profit margin that each company obtained from the sale of each basic product before 12/31/2021 (year ending 2021).
- The application of the device also extends to controlling the profit margin in the “Recycle – Replace water heater” program. Due to the vouchers offered to beneficiaries, there is the possibility that some companies participating in the program will increase the prices they ask for the supply and installation of a new water heater, taking advantage of the increase in demand caused by the issuance of limited-time vouchers, emphasizes the Ministry of Development .
- The maximum fine for violating the provisions of the ceiling is increased fivefold, from 1,000,000 euros to 5,000,000 euros.
- The maximum fine for violating the provisions on the prohibition of promotional actions when there has been a previous reassessment is tripled and increases from 2,000,000 to 6,000,000 euros.
- “The basic basket” is extended until 12/31/2024.
- The obligation to announce supplier reassessments by supermarkets to the Ministry of Development is extended until 12/31/2024.
- The obligation to disclose indicative prices of supermarket fruit and vegetable products to the Ministry of Development is extended until 12/31/2024.
- The maximum limit for infant milk is set until 12/31/2024.