IN 2016 ONE EURO INVESTED IN COMPETITION COUNCIL BROUGHT ALMOST 8 EUROS IN RETURN

On June 14 the Chairman Šarūnas Keserauskas presented the Competition Council‘s annual report to the members of the Cabinet.

The Chairman noted that the Council, which acts as an independent budgetary institution, seeks to bring considerable benefits to consumers, which also contributes to the objectives of the Programme of the Government, for example, lower prices of pharmaceuticals.

The Council has made a commitment to create consumer benefits which, calculated according to the OECD methodology, would exceed the authority’s budget five times. In 2016 the commitment was fulfilled substantially – one euro invested in the Council brought almost 8 euros in return.

Šarūnas Keserauskas also highlighted that the institution‘s budget remains one of the smallest compared to such regulatory and supervisory authorities as the Communications Regulatory Authority, the National Commission for Energy Control and Prices or the Public Procurement Office. Better funding could help the Council acquire equipment and software necessary for conducting investigations and staying on par with competitors in attempt to attract and maintain qualified professionals.