Keeping supply-demand balance to avoid price escalation
07:20 | 01/07/2008
VNGOP- Minister of Finance Vũ Văn Ninh sent a note to leaders of the provincial-level People’s Committees requiring the prompt measures to stabilize prices, ensure the supply-demand balance of commodities and services, and prevent sudden price escalation in essential goods for production and consumption.

Price of primary goods must be stabilized – Illustration photo

It is necessary to tightly control prices of commodities and services ordered by the State to serve national projects, those purchased with money from the State budget, and other subsidized ones.

Prices of such products like food, essential consumer goods, transport fees, parking fees, have to comply with the current  regulations. Competent offices and authorities must do their best to supervise market, fight against trafficking and trade frauds, monitor the price registration, price listing, and price publicization in line with laws.

All State budget-using sectors and offices at all echelons are obliged to cut down 10% of their regular spending in the rest of 2008.

Additionally, they are advised to ensure social security in accordance with the Government’s instructions.

All corporations, groups and enterprises should share the current economic burden. At first, they can join hand in stabilizing prices of electric power, clean water and public bus fees.

Regarding to goods of which the prices should be tightly controlled by the Government (coal, cement, steel, paper, fertilizer, medicine, air and railway fees, tuition and hospital fees), groups and enterprises have to review and apply all necessary measures to cut production, management and consumption costs, raise productivity, reduce cost prices and lower output prices.

By Kim Anh

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