Posted: 06.10.2022 16:10:00

‘Unrealistic’ way of market regulation proposed to Lukashenko, but he called it absolutely correct

Clear pricing rules should be established in Belarus – as stated by the Chairman of the Trade Unions’ Federation, Mikhail Orda, at today’s meeting of the Belarusian leader with the economic bloc of the Government, BelTA reports


"Prices for the products of our state-run industrial and agricultural enterprises are restricted, and they need to pass approvals and get permission to increase them. In turn, private traders – who supply the same spare parts, equipment and components or provide some kind of services – act absolutely as they want and set their own prices. They buy Dollars on the stock exchange at a rate of Br2.5, but calculate this currency at a higher rate when forming prices. Moreover, they always have excuses: i.e. some mythical risks, logistics, and so on," Mr. Orda said.

In his opinion, this is nothing but a hidden speculation. "It turns out they are playing by themselves – setting prices on their own and, accordingly, inspiring others to deal with prices in the same way. This creates an artificial reason for inflation to unwind," Mr. Orda added.

The Chairman of the Trade Unions’ Federation believes modern times require not simply stricter rules: the issue should be dealt with seriously. "We propose to establish clear pricing rules for everyone. Any price must be clearly justified. Those who do not want to obey the general rules should be removed from the market. There should be a clear, understandable discipline in the market for absolutely everyone. Only those who behave conscientiously will remain in business, while those who stretch the market and work actually in shadow will simply leave," he stressed.

"His proposal might seem extremely unrealistic and non-market, but it is absolutely right at present. There was a fear previously: they might leave, this might not be sold or done, and so on. Therefore, my instruction was to ensure that 30 percent of all trade in the country is state-run. I was told then insistently that all trade should be privatised. That’s an unrealistic, non-market proposal. Who are we afraid of now? He is right in saying that those who fail to comply with the established rules should be taken out of the market," Aleksandr Lukashenko stressed. “I saw this 25 years ago, and I was right. Who are we afraid of? Absolutely any process can be taken under our control, if there is a desire."