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GOVT GIVES WATCHDOG EXPANDED POWERS TO CURB HIGHER CONSTRUCTION MATERIALS PRICES

 

Hungary’s Competition Office (GVH) has said the government has expanded its legal powers to probe distortions that are raising prices on the building materials market. The government has mandated GVH’s chairman to order expedited sectoral reviews, drawing on mandatory feedback from market players to determine the reasons for distortions of competition and take necessary measures. The special rules will require tighter deadlines for affected businesses, too. Hungary’s government has announced a number of measures to weed out price-gougers and ensure sufficient domestic supply of building materials as prices rise.