The Cabinet of Ministers canceled the governmental controls of food prices

The Cabinet of Ministers has finally canceled the governmental controls of food prices from July 1. The corresponding resolution No 394 was made public on the government portal.

"The government has canceled the governmental price controls for a number of goods and services. In particular, the corresponding acts of the Cabinet of Ministers of Ukraine are recognized as invalid, and amendments to some regulations are made. The main purpose of these amendments is reduction of the administrative pressure on business, elimination of the excessive state intervention in economic processes, promotion of competition and red tape reduction (deregulation) of price formation", - the document said.

It is noted that this decision will simplify the procedure for price changes depending on the price oscillations of the market, which will allow producers to respond more quickly to the changes of the market conditions.

The Cabinet of Ministers canceled the obligation for the producers of food products to submit a legal background for the need to change the wholesale prices for their products to the State Service on Food Safety and Consumer Protection by the corresponding resolution.