Companies will now be obligated to publicly disclose their commercial markup under a new draft order revealed by Romania's Consumer Protection.
The Romanian National Authority for Consumer Protection (ANPC) has unveiled a draft order designed to mandate economic operators to disclose commercial markups on marketed products, relative to the producer's base price. The initiative is currently open for public consultation, according to News.ro.
The proposed regulation underscores the significance of consumer information as a fundamental right and a critical component in fostering a transparent market. ANPC officials assert that this initiative would foster greater consumer awareness in Romania regarding their rights during purchases.
Transparency in pricing processes, starting from the original product cost, has been identified as an area in need of improvement, given the consequences of the current information gap. The proposed regulation seeks to establish an effective consumer information system regarding the formation of a product's final price.
The ANPC has been actively engaged in recent months, and introducing a regulation requiring economic operators to expose commercial markups in relation to the producer's base price, alongside the product's retail price, is intended to aid consumers in making informed purchasing decisions.
After a 30-day public consultation period, the draft order will be published in the Official Gazette. The order is expected to outline disclosure requirements, transparency obligations, penalties for non-compliance, and a timeline for implementation by economic operators.
The draft order emphasizes the importance of consumer protection and ensuring that consumers are not deceived by pricing practices. Specific details can be found in the draft order or official statements from the ANPC.
(Photo credit: Inquam Photos | George Calin)
- This draft order from the Romanian National Authority for Consumer Protection (ANPC) is aimed at incorporating policy-and-legislation that encourages transparency in finance and business, specifically regarding product pricing.
- The proposed regulation, once enacted, will necessitate businesses to disclose commercial markups, forcing a shift in the general-news discourse towards more accountable politics and ethical business practices.
