VILNIUS - The Lithuanian government adopted on Wednesday a decision that opens the way for it to regulate prices in an emergency, Prime Minister Saulius Skvernelis said.
"A decision was taken and it will be possible to regulate prices in an emergency," he told reporters after the Cabinet's meeting.
"An instrument is put in place for the so-called price regulation and monitoring, with the help of the Consumer Rights Protection Authority. The mechanism is envisaged," he added.
According to Skvernelis, the government expects it will not have to use that instrument.
"This is an instrument that we do not want to use, but if necessary, the state will not hesitate to use it (...)," the prime minister said.
"This instrument is aimed primarily at these sectors that take advantage of the emergency situation to try and unfairly raise prices for goods that are essential for public safety and health," he added.
Lithuanian President Gitanas Nauseda has said recently that price regulation will not help solve the problem of rising foodstuff prices, because price-regulated products would simply disappear from the shelves.