Nauseda vetoes price regulation bill

Lithuanian President Gitanas Nauseda vetoed on Friday a legislative package that would have allowed the state to regulate prices.

According to the president, price regulation by the state is an extraordinary measure acceptable only in exceptional circumstances, for example, in case of a state of emergency in the country.

"Practice has shown many times that price stabilization can be ensured not through restrictions, but through increasing the supply of goods and services and eliminating bureaucratic obstacles," the president was quoted as saying in a statement released by the presidential office.

Under the decree signed by Nauseda, the package of amendments to several laws, adopted by the parliament last week, is being sent back to the Seimas for further consideration.