Removing the price ceiling and many more measures to stabilize the milk price from the Ministry of Finance

Due to stabilization measures, prices of milk products for children under 6 years old have been kept stable for a long time. Photo: H.V

According to representatives of the Department of Price Management, to help stabilize milk prices and control inflation in the last 6 months of 2016, on June 7, 2016, the Government issued Resolution No. 49/NQ-CP for the regular meeting in May, in which they agreed to continue applying the price ceiling of milk until the end of December 31, 2016 based on Resolution No.33/NQ-CP of the regular meeting of May 4, 2015. Thus, the application of the price ceiling of milk will expire after 2 more months.

At this time, the Ministry of Finance will assess and take the final review from the central to local levels on the milk price stabilization activities to report to the Government. In case the Government continues to apply measures to stabilize prices as at present, the price will continue to comply with the provisions of Resolution No. 33. If the Government allows the application of the ceiling price of milk to be removed, the Ministry of Finance will implement a number of specific measures to stabilize the price of this commodity in the coming time.

"We will continue to closely review the price declaration dossiers of organizations and individuals manufacturing and trading milk for children under 6 years old, to stabilize price and declare the price to the Ministry of Finance. At the same time, coordinating with functional authorities, ministries, agencies and localities to inspect the compliance of the law on prices for organizations and individuals manufacturing and trading milk for children under 6 years old." said by Ms.Nuong.

The Ministry of Industry and Trade "refuses" to take over the milk price

In addition, the Ministry of Finance will also direct Customs and the Tax authority to coordinate with related units to review, inspect the import prices of raw materials and finished products from organizations and individuals manufacturing and trading items; conduct consultations on the price of imported products higher than that of the same kind produced in exporting countries and regional countries to control the situation of increasing the price of imports for increasing the domestic price of the milk distributors.

To the end of December, 2016, there will be 888 milk products for children under 6 years with a published maximum price, registered price, and the price declared on the Electronic Portal of the Ministry of Finance, Department of Local Finance. Measures to stabilize milk prices have maintained the stability of prices for these products.