PM calls for prevention of speculation, price increases

Politics

Prime Minister Nguyen Xuan Phuc requested more drastic measures to prevent speculation, price increases, and market devaluation when chairing a meeting of the National Steering Committee for Price Management on April 21.

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc requested more drastic measures to prevent speculation, price increases, and market devaluation when chairing a meeting of the National Steering Committee for Price Management on April 21.

It is also important to control inflation at 4 percent or less set in a National Assembly resolution, PM Phuc said, which requires the synchronous implementation of certain measures.

Ministries, sectors, localities, and relevant enterprises must strictly pursue specific tasks and measures on market price stabilisation in the context of the economy being hit hard by the COVID-19 pandemic, he said.

The PM urged the price of live pork be cut to around 60,000 VND (2.55 USD) per kg, the prices of rice, petrol, oil, and necessities be stabilised, and the prices of water and electricity be reduced to resolve the difficulties facing businesses and people.

Regarding pork, PM Phuc stressed the importance of increasing domestic supply while at the same time increasing imports to ensure supply meets demand in both the short and long terms.

For rice, he asked for the continued monitoring of rice exports, ensuring food security, strictly handling any violations, and safeguarding the interests of farmers, especially those in the Mekong Delta.

For petrol and oil, the PM asked the Ministry of Finance to keep a close watch on crude oil prices and prepare detailed scenarios on petrol and oil price adjustments to avoid a surge in prices, which may affect production and business.

He assigned the Ministry of Industry and Trade to direct the implementation of a policy to cut electricity prices by 10 percent, while considering appropriate methods and timing to better serve poor households.

The Ministries of Health; Education and Training; Industry and Trade; Transport; and Construction as well as relevant agencies were requested to carry out specific measures to reduce the prices of medical supplies and equipment, textbooks, and transport services, and to stabilise the prices of construction materials and essential goods.

The PM also asked the Ministries of Planning and Investment; Finance; and Industry and Trade, together with the State Bank of Vietnam, to closely monitor developments on international and domestic markets and update growth scenarios and macroeconomic indicators so as to make appropriate proposals and recommendations to ensure the value of the Vietnamese dong and facilitate economic recovery./.

Source: https://vnexplorer.net/pm-calls-for-prevention-of-speculation-price-increases-a202026708.html

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