SDP Club in the House of Representatives: We demand a reaction from the FBiH Government to the growing economic crisis

SARAJEVO, (Patria) - We are witnessing that a law was adopted at the end of last year, which limits the price increase of electricity by about 20 percent. This applies to about 60 business entities supplied with electricity by EP BiH. However, the conditions of the contracts they sent us are questionable, or they will switch to reserve supply within 48 hours, which means electricity up to three times more expensive, said MP Mujo Hasić at today's press conference of the SDP Club in the House of Representatives of the FBiH.

"Likewise, since the contracts for legal entities expired on the last day of last year, and since we did not extend them, we all switched to reserve supply and paid several times more for electricity than anywhere else in the world. The liquidity of companies has been jeopardized, and EP BiH did all of this, while EP HZHB did not do it," adds Hasić.

He notes that public companies are established to provide services, not to generate profits.

Head of the SDP Club, Damir Mašić, said that the authorities in the FBiH are reacting inadequately to the rampant prices.

"Inflation in January alone was over 16 percent, and we do not have a single concrete measure, primarily thinking of Commodity Reserves, but also of FUZIP, which could have done much more much earlier. We will demand an urgent report on the state of commodity reserves, as well as on why the FBiH oil terminals are not being used," stated Mašić.

He also states that FUZIP has absolute jurisdiction to react. Mašić asked who violated the provisions on the limit on margins per liter of oil at retail.

"We will demand concrete measures from the FBiH Government to mitigate the catastrophic economic consequences of this crisis," emphasized Mašić.

He notes that depending on the FBiH Government's response, the SDP BiH Club in the House of Representatives will also respond.