March 26, 2020 / 1:48 PM / 4 days ago

Poland reserves right to control prices if needed

WARSAW, March 26 (Reuters) - Poland’s government will be able to set maximum prices and margins on selected goods, it said in proposed legislation designed to combat the negative effects of coronavirus on the economy.

In the proposal, which has been sent to the lower house of parliament, the government said that the health minister in cooperation with ministries responsible for economy and agriculture, could decide on maximum prices for goods that are of significant importance to health protection, people’s security and houshold costs.

The development ministry and the government spokesman were not immediately available to comment on whether Poland plans to control the prices.

Poland has closed borders, shut down schools and public places and told Poles to leave their homes only if absolutely necessary to prevent further spread of the coronavirus, which has infected 1,120 Poles and killed 14.

The government also announced a package to help the economy worth over 200 billion zlotys ($48 billion), while the central bank cut interest rates by 50 basis points earlier this month. ($1 = 4.1626 zlotys) (Reporting by Agnieszka Barteczko; Editing by Elaine Hardcastle)

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