State versus Slovnaft

STATE officials warned that if oil refinery Slovnaft does not stop
including unjustified costs into its fuel prices in 2005, it would have to
pay several more billions of crowns in fines, the Pravda daily wrote.

Slovnaft is refusing to pay a record fine of Sk 1.35 billion (€35
million) which the Finance Ministry is demanding after a control of the company’s pricing policy.

The ministry's spokesman said that as of February next year the Slovak anti-trust authority, Protimonopolný úrad (PMÚ), will be entitled to issue fines of up to 10 percent of companies´ annual turnovers.

This year, turnover at Slovnaft is expected to reach Sk80 billion
(€2.1 billion).

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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