Price Regulation: Amendments to Resolution No. 713

On April 15, the sixth amendment to Resolution No. 713 on price regulation came into full force. Just a day later, on April 16, the Government adopted the seventh amendment to the procedure for price formation through Resolution No. 713 (7).

What changes both amendments have brought compared to the previously existing rules?

• The list of regulated goods has been significantly reduced (from 331 to 211 items). As of April 15, goods excluded from the list are subject to free pricing.
• When forming prices for imported goods, the separate calculation of markups (maximum importer markup and maximum wholesale and retail markups) is no longer used. Starting April 15, a single maximum markup for all participants in the supply chain (importers, wholesalers, and retailers) has been introduced. This markup can be distributed in any proportion among the participants, as long as the overall limit is not exceeded.
• A list of costs that are prohibited from being included in the cost price has been defined.
• For manufacturers of goods subject to price regulation, a maximum profit margin has been set. Within this limit, price increases do not require approval from government authorities.
• Until May 15, maximum wholesale, retail, and producer prices have been set for certain vegetables.
• A maximum wholesale and retail markup has been established for car spare parts produced in Belarus.

Since the publication of the sixth amendment to Resolution No. 713 on April 2, the Ministry of Antimonopoly Regulation and Trade (MART) has published four clarifications on the application of the new rules as of April 20. These can be found on the official website via the link.