TALLINN - Estonian Competition Authority proposed to introduce tougher sanctions on companies that abuse their monopolistic position on the market, the news portal BBN reported.
According to the competition regulator, the current sanctions are too soft.
As Chairman of the Competition Board Mart Ots noted, more rigid rules would force enterprises be more serious and responsible when observing market rules.
"The problem in Estonia is that there is a maximum limit imposed on the fine," said Ots, explaining that while the fine could be proportional for a smaller water utility operating outside Tallinn, it is too small for large public corporations.
"If you have 30,000 euros as the maximum fine, it could well bankrupt some smaller company, but for large corporations it is not such a big deal," explained Ots.
The competition authority believes that lawmakers should introduce a ratio of fine to the company's revenue.
Estonian Minister of economic affairs Juhan Parts said in comment that Estonia had adopted anti-trust legislation and that several companies had already been fined based on the new law.