BUSINESS BRIEFS

President to push down prices

PRESIDENT Rudolf Schuster plans to intervene in the elevation of regulated prices, planned for next January. He wants to ease the social impact of the planned measures, reported the daily Hospodárske noviny.

Schuster lashed out at the Office for the Regulation of Network Industries (ÚRSO), suggesting that the steep increase in energy prices is socially unbearable for certain groups.

ÚRSO head Ján Matuský explained to Schuster that his office had taken control of the regulation of network industries at a time when energy prices were significantly unbalanced in Slovakia.

"Households paid less for electricity, but spent more on other products and paid higher taxes, from which the government paid power producers for uncovered costs," Matuský told news wire SITA.

Presidential spokesman Ján Füle suggested that the president is likely to step in, to regulate the process of inflation. However, he has no direct power to influence the rising prices.

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