Ministry bolsters price control effort as Tet nears

Ministry bolsters price control effort as Tet nears

Minister of Finance Vuong Dinh Hue recently issued Directive 04/CT-BTC to intensify price management and stabilisation as the year comes to a close and Lunar New Year (Tet) approaches.

Accordingly, relevant organisations and authorities must watch market price fluctuations closely while ensuring the balance of supply and demand for essential goods such as food, sugar, medicines, petrol and oil, gas, fertilisers and travelling services.

In localities where price stabilisation was already carried out, supervision would be tightened to ensure compliance with the Government's regulations.

Price-stabilised goods would also be sold in rural and remote areas together with promotional activities to stimulate consumption and increase purchasing power.

According to the directive, the adjustment of prices must have a detailed roadmap including an assessment of any possible impacts on production and residents' lives.

Currently, 36 provinces and cities throughout the country have implemented the Government's price stabilisation programme with about 6,400 points of sale.

Price-stabilised products have a price 5-10 per cent lower than the market price, which helps prevent price surges, especially as Tet draws near.

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