Wednesday, March 6, 2024

BILL FOR A PRICE CAP ON A BOTTLE OF WATER APPROVED

 Filenews 6 March 2024



Energy Minister George Papanastasiou said immediately after the conclusion of the Council of Ministers meeting that the bill imposing a ceiling on the sale of bottled water at some points of sale was approved.

The bill will be submitted to Parliament in the coming days. According to Mr. Papanastasiou, the need to set a ceiling was identified as in some points of sale where there is no competition in the sale of water and some other products, unjustifiably high prices were observed.

According to the bill, as elaborated by the Consumer Protection Service, a ceiling will be imposed on bottled water in a package of 500 ml, bottled water in a package of 750 ml, inside and outside the refrigerator, as well as on drinking water sold in a glass.

A cap will also be imposed on water prices in cases where consumers serve themselves, i.e. they pick up from a store and buy water without sitting in the restaurant to be offered serving services. The Minister of Commerce will be able to issue a decree specifying the products to be capped, as well as the points of sale where the measure will apply.

At the same time, the bill provides that water price caps will apply at airports, ports, sports venues (stadiums and stadiums), indoor beaches (remote), theaters, cinemas, archaeological sites and museums. It should be noted that by decree the maximum selling prices and points of sale will be revised. The bill also provides for the imposition of administrative fines on those who violate the law.