Competition Authority says abuse recommendations neglected

TIRANA, April 4 – The Competition Authority says state institutions often neglect recommendations by the competition watchdog and announced it is working to draft a law that will turn its recommendations into law obliging institutions to implement them.
The Bank of Albania and the Innovation and Technology Ministry are two of the state institutions which have not taken into consideration the Authority’s recommendations on treasury bills and the liberalization of the 3G mobile service.
The Competition Authority has called on the Bank of Albania to return cash payments for the primary treasury bill market in Tirana and other branches in the country’s main regions. The appeal came on Monday by the Authority’s director Lindita Lati during a herring at the parliamentary economy committee where she presented the 2010 report. According to the Competition Authority, the return of cash payments in the central bank’s branches would eliminate transaction costs from commercial banks for citizens investing in treasury bills.
“Payments for participation in treasury bill auctions continues being made only in second-tier banks,” said the Authority’s director Lati.
A report published by the Competition Authority last year recommended the Bank of Albania to take measures in reducing information asymmetries in the treasury bills market because of lack of transparency in informing customers in commercial banks.
Individual or small business customers are not offered necessary information by second tier banks regarding treasury bill market, limiting their choices, said the report. It recommended the Bank of Albania to take measures in reducing information asymmetries in the treasury bills market because of lack of transparency in informing customers in commercial banks.
Individual or small business customers are not offered necessary information by second tier banks regarding treasury bill market, limiting their choices, added the report.
Investment in treasury bills is the most common and most recognized form of investment in securities for Albanian investors. T-bills are issued and guaranteed by the Ministry of Finance on behalf of the Albanian government. T-bills are traded in the primary and secondary market. The minimum amount to participate in the primary T-bills market is 300,000 lek (3,000 dolllars). The Bank of Albania organises 3-month and 6-month T-bills auctions every month and 12-Month T-Bills auctions every two weeks.
The Authority director also mentioned the case of the Innovation and IT ministry regarding the 3G licence currently possessed only by Vodafone Albania.
The Competition Authority says it is also investigating into sharp price increase in food products.