'Frozen prices' extended for another 60 days until full implementation of price comparison app

(Patria) - Federal Minister of Trade Amir Hasičević held a meeting today at the seat of the Government of the Federation of BiH in Sarajevo with representatives of the Association of Employers of the Federation of Bosnia and Herzegovina from the trade sector group. The Federal Ministry of Trade announced that the meeting discussed the status of legal solutions in the field of trade, as well as the continuation of the 'frozen prices' project.

"Given that the Decision of the Government of the Federation of BiH on frozen prices expires on March 1, the representatives of traders expressed their agreement to extend the measure for an additional 60 days, so that all market participants have enough time to submit and verify the data necessary for the full functionality of the price comparison application," the Ministry stated.

They added that the extension of this measure ensures the continuity of consumer protection, as well as a smooth transition to a new model of market transparency through a digital tool that will provide citizens with a clear insight into product prices in different retail outlets.

"It was emphasized at the meeting that the Federal Ministry of Trade is simultaneously continuing to improve the legislative framework in the field of market regulation. In this context, the Law on Exceptional Price Control Measures in Extraordinary Circumstances will be sent to the parliamentary procedure, while the Law on Consumer Protection will be submitted to the Parliament of the Federation of BiH for first reading," the Ministry stated.

They added that the goal of these regulations is to strengthen institutional mechanisms for consumer protection, ensure market stability in extraordinary circumstances, and further improve transparency and fair market competition in the Federation of Bosnia and Herzegovina.

The Federal Ministry of Trade and representatives of the trade sector confirmed the continuation of a partnership approach in creating measures that simultaneously protect citizens' standards and ensure a sustainable business environment, it was announced from this ministry.