Kazakhstan Set to Pull Price Limits for Fuel and Lubricants
Photo: Olga Ibraeva, Orda.kz
The head of the Agency for the Protection and Development of Competition, Marat Omarov, spoke at a round table on economic liberalization and announced the upcoming removal of fuels and lubricant price limits, Orda.kz reports.
According to Omarov, a decision was made to cancel price caps and work with major players to monitor compliance with antitrust legislation. Previously, the company TOO Petrosun occupied about 50% of the market.
The demonopolization commission decided to return this asset to KazMunayGas's structure. Now, the state controls about 80% of the wholesale market of fuels and lubricants through the KMG company group and the newly reestablished TOO Petrosun. The next step will be deregulating the price limit at refueling stations.
The regulatory agency's head emphasized that these reforms follow from the decree, and decisions on them have already been made.
Operations are underway to inform large networks about the regulations for complying with antimonopoly legislation. The main goal is gradually reducing price controls, especially in the retail segment.
Original Author: Olga Ibraeva
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