Taçoy: Price Inspections Will Continue to Increase

Economy and Energy Minister Hasan Taçoy said inspections of market prices would continue to increase and that market balance would be achieved through cooperation with all stakeholders.

According to a statement from the ministry, Taçoy met with members of the board of the Cyprus Turkish Food Retailers Association (MAR-DER) to discuss key issues, particularly price inspections in the market.

Taçoy said market prices were the responsibility of the state and that inspections in this area would be intensified.

Stressing that the primary aim of price inspections was to protect consumers, Taçoy noted that retailers and supermarkets also benefited from these inspections.

“Both buyers and sellers stand to benefit from inspections,” Taçoy said, adding that preventing unfair competition would also protect businesses that operated properly.

Taçoy said work would begin to implement the issues discussed with the MAR-DER board, expressing satisfaction that they shared common ground on many matters.

Emphasising that all market players needed to be protected to safeguard the market, Taçoy said: “Our aim is not to cause losses to anyone. We intend to create an environment in which everyone benefits by ensuring market balance and preventing not only unjustified gains but also unfair competition. This is achievable, and we will accomplish it through joint efforts with all stakeholders.”