Prices only in tenge

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A draft law prohibiting to specify prices of goods and services in foreign currency

The Ministry of National Economy may be a competent authority in the field of advertising, where, with the assistance of state bodies, it will be responsible for the management and inter-sectoral coordination of advertising. "The choice of this model of regulation due to the fact that today the definition of a single authorized body is responsible for policy making, it is impossible, because of the versatility of the regulated legal relations in this area, and the introduction of self-regulation is premature due to the lack of readiness of business", - said the Minister of National Economy Kuandik Bishimbayev, introducing the draft law at a meeting in the Government.

One of the fundamental norms of the draft law can be called the requirement to indicate the cost of the product sold on the territory of the Republic of Kazakhstan, including in advertising, only in the national currency. "In fact, we set clear requirements that the entire value of the goods and services must be listed exclusively in the national currency, and the mechanism of fines and detection of violations like these will be governed by the laws "On the trading activity", "On advertising" and regulations. The jurisdiction of local executive bodies – is to follow advertising - outdoor, and so on, the competence of TV channels - watch this, and, respectively, the competence of the Ministry of Information and Communications - that everything that appears in the mainstream media, in line with the law ", - commented the Minister at the briefing after the meeting in the Government.

Another important rule can be called a proposal to extend the permit for placement of outdoor advertising. According to law the permit for outdoor advertising is issued for 1 year. Because of this, advertisers have to annually submit to the regulatory authorities documents and extend advertising. The draft law proposes to extend this advertising permit from 1 to 5 years.

"At the same time transitional provisions were according to which the permits issued prior to the enactment of the draft law, remain in force for five years from the date of their issue", - added Kuandik Bishimbayev.

The draft law amends the Code "On Administrative Offences", Tax, Land, Budget Codes and the Code "On people's health and the health care system", Law "On regulation of commercial activities", "On Consumer Protection", "On mass media" Law "On Television and Radio Broadcasting", "On permissions and notifications", "On advertisement", "On the status of the capital of the Republic of Kazakhstan" and "On local government and self-government in the Republic of Kazakhstan", "On automobile roads".

Zhanar Serdalina