PM figures out measures for pulling down prices

The PM put forth the request as the economy is facing a number of challenges, including slow economic growth, while consumer price index, interest rates, and inflation are still high.

Moreover, prices of food and foodstuff that grew up recently in some localities have made it difficult for the Government to keep the inflation rate at around 15-17% this year.

Accordingly, the Government chief ordered provincial People’s Committees to expand management and inspection over prices so as to avoid speculation and illegal storage of commodities.

Businesses are encouraged to speed up production of essential commodities, particularly food and foodstuff, to satisfy demands.

All acts of offending price regulations, especially of making corrupt use of the State’s guidelines on market-based regulations of some commodities must be deserved strict fines.

The Ministry of Finance (MoF), in coordination with relevant agencies and localities, continues keeping close watch at the developments of domestic and foreign markets in order to timely promulgate prompt tax policies and take effective measures to stabilize the market to avoid abnormal price hikes of essential commodities.

MoF was also asked to consistently regulate the prices of electricity, petrol and coal on the basis of market rules in supporting the Government’s effort on inflation curbing.

The Ministry of Industry and Trade will be responsible for developing measures to accelerate production, harmonize import and export, and balance supply and demand of commodities like food, foodstuff, petrol, fertilizers, steels, and medicines.

The Ministry of Agriculture and Rural Development was assigned to coordinate with the Ministry of Industry and Trade and border localities to quickly inspect and take measures to exercise strict management over the export of food and foodstuff to neighboring countries, thus helping to to make sure of abundant supply of commodities and production inputs domestically.

Besides, State-owned enterprise were requested to reduce their production cost and develop reasonable price raising roadmaps for those commodities that are listed for price stabilization and strictly observe regulations on publicizing selling prices.

Last but not least, the mass media were asked to timely disseminate the Party and State’s guidelines and Government’s policies. The dissemination of false information regarding prices and market situation will be seriously punished.

All the above instructions aim to create widespread social consensus and supports for the Government to realize the targets of inflation curbing, macro-economic stabilization, and social welfare guaranteeing.

By Hải Minh