Price policy shaped by economic and social factors, says SOCAR official

In a regulated economic environment, both economic and social factors influence pricing policy, said Tabriz Ammayev, Deputy Director for Strategy and Sustainability at SOCAR's Azerigaz Production Union, said during a panel discussion on "Regulation of Natural Monopolies: Competition and Public Interest" at the 2nd National Competition Forum in Baku, according to Report.

"Tariffs do not always fully reflect market realities. During the transition to a liberal economy, a flexible pricing policy is introduced, which requires an adaptation period for business entities long accustomed to stable tariffs," Ammayev stated.

He added that one of the main challenges facing natural monopolies is balancing social obligations with public interest:

"Social obligations can increase the actual costs for economic entities and limit investment opportunities. However, we do not view these obligations as expenses - they are a vital link in building public trust and safeguarding public interest."