Банкеръ Weekly

Briefs

CPC HAS IMPOSED SANCTIONS WORTH BGN1.4MN IN 2003

The Commission for Protection of Competition (CPC) issued 230 decisions last year, 117 of which were for unfair competition, 49 for state assistance, and 64 under the antitrust case. Only 21 of them were appealed at the Supreme Administrative Court, Petko Nikolov who is chairman of the CPC since October 15, pointed out.In 2003 the CPC imposed property sanctions worth a total of BGN1.4MN, of which BGN253,000 for unfair competition, BGN161,000 for abuse of monopoly position, and BGN490,000 for setting up cartels. As more serious violations of the Protection of Competition Act Mr. Nikolov mentioned the agreement between several insurance companies as of the end of 2003 for fixed prices of the Green Card insurance, and of producers from Yambol for a unified price of bread, as well as the abuse of monopoly position on the part of Metro Cash and Carry and Sofia Water.CPC's Chairman pointed out the three priorities in its activities this year: successful closure of the Competition chapter in the preaccession negotiations with the EU, specifying the decisons about state assistance and cartel agreements, and synchronization of its operation with the other state-run institutions. On that occation the CPC has already signed agreements for joint activities with the Chief Tax Directorat, the Union of Employers, and the State Commission on Energy and Energy Sources.

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