Ministry of Finance: GM Uzbekistan sets prices for its products

Tashkent, Uzbekistan (UzDaily.com) -- Automobiles produced by GM Uzbekistan are not included in the list of socially significant and strategic types of goods (services), prices (tariffs) for which are subject to state regulation. This was stated by the press service of the Ministry of Finance of Uzbekistan.

GM Uzbekistan is increasing prices for its automobiles on average by 14% from 1 August 2018.

The statement of the Ministry of Finance said that on 14 November 2017, the President of Uzbekistan adopted a resolution “On measures to improve the competitive environment, eradicate conditions for abuse and theft in the provision of fuel and energy resources and other highly liquid products, strengthen payment discipline, reduce receivables and payables”.

This resolution envisages abolition of the powers of state bodies, organizations and government commissions from 1 January 2018 to approve price ceilings on products, raw materials and materials, volumes and dislocation of their distribution, which do not comply with the provisions of this resolution (except for socially significant and strategic products, which is determined by the Cabinet of Ministers).

Automobiles produced by GM Uzbekistan are not included in the list of socially significant and strategic types of goods (services), prices (tariffs) for which are subject to state regulation approved by the Cabinet of Ministers of the Republic of Uzbekistan on 30 March 2018.

Thus, the state bodies or commissions, including Finance Ministry, do not regulate the prices for automobiles of GM Uzbekistan.

GM Uzbekistan solely sets prices for its cars based on the production costs and ensuring profitability of operations and demand for cars.