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Tuesday, December 6, 2022

PM orders enhancing goods price management

The Saigon Times

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HCMC – The prime minister has issued a telegram asking relevant agencies, cities and provinces to enhance their efforts in managing prices and ensure sufficient supply of goods to stabilize market prices of goods and services, mainly essential items.

The telegram was released amid rising prices of essential goods and services, the local media reported.

The prime minister asked the Ministry of Finance to promptly consider slashing excise and value-added taxes on fuels to improve firms’ business and production activities and residents’ daily life.

As for transport services, which are directly hit by fuel prices, the prime minister tasked the Ministry of Transport with working with the chairpeople of provinces and cities to review charges set by transport firms to make appropriate adjustments for prices of input materials, mainly fuels.

Regarding essential goods and services, which are indirectly affected by fuel prices and impact the consumer price index, the prime minister told the ministers, relevant agencies and local authorities to keep a close watch on changes in prices, enhance inspections into enterprises and household businesses to check prices and stabilize goods prices. Harsh sanctions must be imposed for price gouging.

The Ministry of Agriculture and Rural Development was assigned to team up with the Ministry of Industry and Trade to carefully assess production activities and the supply, consumption and export of goods, especially food and foodstuffs, to stabilize market prices.

In addition, the ministries of Natural Resources-Environment and Construction were asked to work with the cities and provinces to effectively manage supply sources and fight the hoarding of goods and overcharging to prevent delays in construction. The provincial and municipal construction departments are in charge of updating fluctuations in housing material prices and closely monitoring market prices.

The provinces and cities are responsible for reviewing the prices of lodging and tourism-based services to make them reasonable.

The prime minister also asked the relevant agencies to keep a close eye on the prices of many other items such as medical equipment, medicine and textbooks.

Also, the Ministry of Finance was told to join hands with the Ministry of Planning and Investment and the State Bank of Vietnam to analyze and predict the prices of goods for the rest of the year to effectively put inflation under control.

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