The Cabinet of Ministers has approved a decree on implementing the pilot project on temporary restrictions on using state regulation for food prices.

First Deputy Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv said at a cabinet meeting the project would be launched on October 1, 2016 and last until January 1, 2017.

"The draft resolution is developed to study the effectiveness of food price regulation and making decision on whether it is appropriate to retain this regulation," he said.

As reported, the ministry proposed to launch a project to abolish state regulation of prices for food and services in retail outlets from August 15, 2016.

According to the draft document, posted on the ministry's website, it is proposed to temporarily suspend regulations No. 1548 of December 25, 1996 and No. 1222 of October 17, 2007 in part of state regulation of prices for baby food, bread, flour, sugar, cereals, meat and dairy products, eggs, sunflower oil and other products.

The document also provides for the abolition of state regulation of payment for services provided in trade facilities, in food and non-food markets, the level of prices and profitability for retail space rent.

KYIV. Sept 23 (Interfax-Ukraine) – The Cabinet of Ministers has approved a decree on implementing the pilot project on temporary restrictions on using state regulation for food prices.

First Deputy Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv said at a cabinet meeting the project would be launched on October 1, 2016 and last until January 1, 2017.

"The draft resolution is developed to study the effectiveness of food price regulation and making decision on whether it is appropriate to retain this regulation," he said.

As reported, the ministry proposed to launch a project to abolish state regulation of prices for food and services in retail outlets from August 15, 2016.

According to the draft document, posted on the ministry's website, it is proposed to temporarily suspend regulations No. 1548 of December 25, 1996 and No. 1222 of October 17, 2007 in part of state regulation of prices for baby food, bread, flour, sugar, cereals, meat and dairy products, eggs, sunflower oil and other products.

The document also provides for the abolition of state regulation of payment for services provided in trade facilities, in food and non-food markets, the level of prices and profitability for retail space rent.