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Kyrgyzstan increases fines for prices in foreign currency

Fines for prices in a foreign currency were increased in Kyrgyzstan. Almazbek Atambayev signed a law on amendments to some legislative acts. Information Policy Department of the Presidential Administration reported.

According to it, the President signed the law on amendments to the Code of Administrative Responsibility, the laws on advertising and public procurement. Amendments were adopted by the Parliament on January 19, 2017.

In order to strengthen the national currency, the following regulations are amended:

  • the Administrative Liability Code, that increases fines for not hanging the price tags (labels) on sold goods (the price list for services) and an indication of the cost parameters not in the national currency;
  • Advertising law — Article 5 is complemented by paragraph 11, stipulating that the cost parameters should be indicated in national currency. In addition, this article is corrected through replacement of «subject to obligatory certification» by «certified product»;
  • Articles 14 and 51 of the public procurement law, saying that the price for the goods shall be indicated in national currency.

This law shall come into force fifteen days after the date of its publication.

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