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Eurowallet: Government sets up Pricing Council

The government on September 24 set up a Pricing Council to supervise price developments during Slovakia's euro-adoption process. Slovak Trade and Industry Chamber chairman Peter Mihók will head the new body.

The government on September 24 set up a Pricing Council to supervise price developments during Slovakia's euro-adoption process. Slovak Trade and Industry Chamber chairman Peter Mihók will head the new body.

"The Pricing Council will monitor price developments. If any anomalies occur, it will have the task of determining whether they were evoked by market conditions or speculation," said Prime Minister Robert Fico after the government session.

If speculation is found to be at the core of certain price increases, the Council will be able to recommend that appropriate ministries apply various measures, of which price regulation will be the strictest, he added.

The Pricing Council members include various ministers, Slovak Trade Inspectorate head Nadežda Machutová, government appointee for Euro Introduction Igor Barát, and Bratislava regional council chairman Vladimír Bajan. TASR

Compiled by Zuzana Vilikovská from press reports
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