Official clarifies price controls on goods
Official clarifies price controls on goods
The government has explained to the public that it still pays close attention to the fluctuating prices of goods and puts practical measures in place to limit price rises and protect the interests of consumers.
A senior official at the Ministry of Industry and Commerce's Department of Domestic Trade informed Vientiane Times that the department is still working on the management of goods prices amid rising concerns among members of the public.
The department's Director General, Mr Leuam Yongvongsitthi explained the work it has undertaken in relation to price control on Wednesday in Vientiane.
He said the department has established different goods categories for which prices will be controlled. Currently there are four different categories of goods on the list for price management, including petrol, rice, meat and fish.
“If the prices of any other goods are increasing they will be also named on the list for price control,” Mr Leuam said.
The department relies on two basic measurements to manage the price of goods, namely to monitor the movement of goods prices in the market and then to set price ceilings where required.
In an effort to deal with fluctuating goods prices last year the government contributed around 447 billion kip to ensure the price of diesel and petrol was stable and consumers were able to buy it.
“ If the price of petrol increases it will bring negative impacts on other products - that is for sure,” Mr Leuam said.
He explained that the price of meat such as pork is also clearly stipulated in terms of the prices that can be charged at the farm gate as well as at the markets.
vientiane times
