WG discusses introduction of minimum reference prices

The Ministry of Economy of the Kyrgyz Republic has drafted a law on amendments to the legislation, which proposes to establish a minimum level of the reference prices (MLRP) for certain goods imported to Kyrgyzstan.

On July 12 and 14, members of the working group including IBC discussing which state agencies should be responsible for this issue, the State Tax Service or the State Antimonopoly Regulation Agency under the Government of the Kyrgyz Republic.

The WG members proposed to consolidate the powers by the following authorities:

1. The procedure for establishing the minimum level of the reference prices for importing goods will be determined by a resolution to be developed by the Ministry of Economy of the Kyrgyz Republic;

2. The State Tax Service should be entrusted to develop the list of goods for which the MLRP will be applied;

3. The State Tax Service or the State Agency for Antimonopoly Regulation should be entrusted to establish the MLRP amount for commodity items.

Following the discussions, it was agreed that the business will develop its proposals on the WG findings.

IBC suggested transferring these powers to an independent body, and the participation of the business community should be mandatory in the development of the documents.