‘Household basket’ to start in Cyprus, too

The Consumer Protection Service of Cyprus on Wednesday presented its initial proposal for the introduction of a “household basket” in Cyprus to the stakeholders – the Hypermarkets Association, the Retailers Association, the Cyprus Employers & Industrialists Federation, and the Cyprus Chamber οf Commerce and Industry.

This measure has been in effect in Greece for the past few weeks, with the goal of ensuring low prices for products considered essential for a household. Now the Cypriot market is attempting to implement something similar.

In this context, the head of the service, Konstantinos Karagiorgis, had contacts with the Greek Development Ministry in the previous days, and was informed of the practices followed.

Based on this, the Consumer Protection Service has developed an initial proposal, which will be subjected to consultation before being finalized and submitted to the Council of Ministers for approval, and then to Parliament.

According to the secretary-general of the Retail Commerce Association of Cyprus, the stakeholders have been informed of the service’s intentions on the issue.

The Energy, Commerce and Industry Ministry’s goal is to complete the entire consultation process with the cabinet and Parliament within the next few weeks, a schedule that is admittedly very tight.