Strengthen price control measures: MoF

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Ministry of Finance requests to continue to strengthen price control measures. Illustrative photo.

The official letter says that in the first nine months of the year, the price management and administration have been implemented under the direction of the Government and the Prime Minister and achieved positive results, contributing to inflation control.

However, from now until the end of 2022, inflation will continue to increase in some countries; the world's petroleum prices fluctuate abnormally; the prices of many major materials and supplies are under great pressure from the increase in the price of imported raw materials and domestic products. Therefore, price management should be strengthened to control inflation.

The Ministry of Finance requires agencies and units to follow the Official Dispatch 679/CD-TTg dated July 31, 2022, of the Prime Minister on strengthening measures on price management and administration; and drastically comply with Official Letter 882/VPCP-KTTH dated February 10, 2022, Notice 65/TB-VPCP dated March 2, 2022, Notice 81/TB -VPCP dated March 24, 2022, Notice 179/TB-VPCP dated June 22, 2022, Notice 207/TB-VPCP dated July 18, 2022, and Notice 280/TB-VPCP dated September 7, 2022.

The ministry asks agencies and units to use flexibly and effectively tools and measures to regulate prices following the law to control and stabilize the market. For example, strengthen the effective implementation and supervision of price declaration and price listing measures; publicize price information; inspect compliance with the law on price, and strictly handle violations of the law on price.

The units and agencies must promote information and communication and ensure transparent price information, especially the prices of key materials and essential products related to production and people's life, to limit inflation expectations, and stabilize consumer and business psychology.

The Ministry of Finance also requests the local Finance Departments to grasp the price market and strictly and effectively report the market prices in the locality. Furthermore, actively coordinate with departments, agencies and sectors to promptly advise the Provincial People's Committee to expedite the management, administration and stabilization of prices, based on the local situation, to decide on the implementation of the market stabilization program in the locality.

The General Department of Taxation, the General Department of Vietnam Customs, the General Department of State Reserves and the State Treasury are requested to perform their tasks effectively; strengthen the combat of smuggling fraud and fake goods; prevent abnormal fluctuations affecting socio-economic life; strictly control tax declaration and finalization, tax refund, anti-tax loss and fraud, reduction of tax arrears; control state budget expenditures to ensure efficiency and thrifty and following the regulations; timely supply national reserve goods under the decision of the Prime Minister and the direction of the Ministry of Finance to respond to situations promptly.