PM asks for tightening price management

Prime Minister Pham Minh Chinh has requested relevant ministries, agencies and localities to enhance price management.

Material import and sea transportation costs tend to increase in the coming time together with salary reform policy being in place from July 1 would cause pressures on prices of essential goods and services, according to the dispatch No. 61/CD-TTg issued by the Government leader on June 22.

The dispatch therefore urged relevant ministries, sectors and localities to make proactive assessment to have timely, effective and appropriate response to such a situation.

The PM asked them to keep a close watch on market developments, and to take timely measures to ensure domestic supply-demand balance, stabilize prices and avoid the shortage of goods and speculation that will lead to unreasonable price increases.

They were also instructed to closely follow prices of essential products in the global market as well as regional and global situations which may make negative impacts on domestic prices.

Measures should also be taken to facilitate the supply, transportation and distribution of products and services, particularly petrol and strategic commodities that are vulnerable to impacts from the disruption of the global supply chains and the world’s geo-political tension and conflicts.

The PM ordered them to intensify supervision and inspection over the publication of prices of goods and services and information relating to prices in line with regulations.

The Ministry of Finance was assigned to work with relevant ministries and agencies to give market price forecast and update the detail price management scenarios for the rest of the year, thus achieving the goal of keeping the inflation rate at 4-4.5% for this year.