TODAY.AZ / Business

Two prices to be shown on goods in Azerbaijan starting from 1 October

08 September 2005 [09:32] - TODAY.AZ
The prices of goods will be shown by both old manat and new manat in all retail shops and purchase and sale objects by 1 October.
This measure will be taken in accordance with the President’s decree on denomination. Deputy Chairman of management staff of National Bank Alim Guliyev told the journalists that complex measures are taken by the Ministry of Economic Development, Ministry of Taxes, Finance Ministry, and National Bank with regard to this.

The customers need not to worry about the “loss” of their money during the transition to new prices: “If the kopecks are more than half a kopeck as the result of the rounding off they will be rounded off to 1 kopeck then. If it is less than a half kopeck it will be decreased. No sum will be lost here. These procedures have already been defined by the Cabinet of Ministers accordingly”.

The National Bank has its own relevant normative documents concerning these procedures. Every economic body will control to express the new prices with whole number. In addition, relevant economic bodies will draw up normative documents for the economic subjects to account.

According to the deputy chairman, the information on the measures taken in the direction of denomination will be collected each term and presented to the Cabinet of Ministers. The Cabinet will regularly inform the President of the country about the measures taken.


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