PM orders enhanced price management measures

Prime Minister Pham Minh Chinh has asked price management to be enhanced in the coming time, under an official dispatch recently sent to ministers, heads of ministerial-level agencies, and the chairpersons of the Peoples’ Committees of the provinces and centrally-run cities.

Ministries and sectors need to keep a close watch on the market developments, and roll out measures to ensure domestic supply-demand balance and stabilise prices, given the pressure from the implementation of the market roadmap for State-managed products which were delayed over the past time, rising costs of imported materials and sea shipping, and wage reform.

Competent sides must do the same for the strategic goods in the global market as well as regional and international situations so as to give timely warnings of the risks that may affect domestic prices and to propose rational, flexible and effective solutions and scenarios to relevant administrations.to

They are urged to ensure smooth supply, circulation and distribution of products and services, particularly petrol and strategic goods with a possibility of being impacted by the global supply chain disruption, conflicts, and geopolitical tensions.

Besides, the stakeholders are ordered to focus resources on the building and completion of an institution to guide the implementation of the Law on Price adopted in 2023, creating a full legal framework for the price management and administration work.

The Ministries of Industry and Trade (MoIT), Health, Education and Training, and Labour-Invalids and Social Affairs (MoLISA) are responsible for reviewing, reporting and proposing a specific roadmap for price adjustments in their authority, while joining hands with the Ministry of Finance (MoF), the General Statistics Office (GSO), and other competent agencies to evaluate impact on the consumer price index and specific goals and scenarios to curb the inflation, and report to the Prime Minister before June 30.

The MoF is requested to work with the Ministry of Planning and Investment, the State Bank of Vietnam, the GSO, and other competent agencies and localities to step up price forecast, update price management scenarios in a detailed, specific, and timely fashion in the remaining months of the year so as to propose rational measures to keep inflation at 4-4.5% this year to the Government and the Prime Minister.

It is asked to join hands with relevant agencies to harmoniously and effectively carry out solutions to ensure petrol supply for the domestic market and carry out inspection on the application of the electronic invoices for petrol products.

Regarding food, building materials and air transport services, competent ministries must closely watch the market development to stablise prices and assure supply-demand.

With other important and essential goods, ministries, sectors, and localities must keep a close watch on the supply-demand balance and market developments to have rational administration measures.

The Ministry of Information and Communications must coordinate with competent sides to enhance communications work on price listing and the Government’s price management work.

Deputy Prime Minister Le Minh Khai is responsible for monitoring and directing relevant ministries, agencies, and localities to realise the dispatch./.