The director of the oil-importing company Baraka, Vazha Beridze, stated that any government decision to reduce product prices should be mandatory for businesses. He made the remarks before a parliamentary commission on price regulation, emphasizing that if a price reduction is planned, it should be implemented gradually, with all companies finding ways to comply. He noted that in Georgia, most food, pharmaceutical products, and fuel are imported, and there is sufficient scope for price adjustment.
When asked about government intervention in price regulation under free-market conditions, Beridze said he will present his position at the commission both as a consumer and a business representative. He cited an example from the pharmaceutical sector, noting large price differences for the same medication in different pharmacies, which highlights inconsistencies in the market.
Regarding oil, Beridze avoided answering whether importers can directly reduce prices, instead giving the example of apple imports, where local prices are significantly higher than international ones. He stressed that while he supports government-led price reductions, the market remains largely liberal and competitive.
Beridze reiterated that Georgia’s economy is heavily import-dependent, meaning price differences between suppliers are significant. He highlighted the tension between government intervention for affordability and a free-market economy, explaining that businesses have the freedom to set prices, yet coordination with regulatory initiatives could help address consumer concerns.
