Goods prices remain stable despite salary increases
Goods prices remain stable despite salary increases
Goods prices in markets nationwide remain stable despite the salaries of state employees rising this year, reported the Department of Domestic Trade under the Ministry of Industry and Commerce.
After the government had announced the increased index of state employee's salaries, the Ministry in cooperation with relevant sectors from central to local authorities had closely and actively tried to control the goods prices in markets to ensure there were no raises in current prices, Domestic Trade Department Director General, Mr Bounthien Keosipha told local media recently.
The Ministry has issued different measures and activities to help control prices by following and advising vendors to put goods price symbols on all of their goods in order to guarantee fair prices for consumers, he said.
The list of goods that the Ministry is controlling includes prices on petrol, rice, pork, beef and fish, while vegetables and other cash crops are dependent on seasonal and market demand.
The Ministry says it focused on the control of these goods in particular as they are c onsumption goods that impact socio-economic development when prices are adjusted.
�After the index of state employees' salary started payments last month, the goods prices in the markets, especially in Vientiane, remained stable or have stayed at normal levels,� said Mr Bounthien.
�The management of price stability was closely and actively followed and followed with the inspection of goods in the markets by local authorities, good cooperation from vendors as well as an understanding of the vendors around government policy in goods price management.� He explained.
�Goods import entrepreneurs and companies also followed government regulations especially regarding that all imported products should have strict goods pricing symbols in Lao language.� He added.
Goods prices, in particular, retail and wholesale prices in markets or during important events during the year are expected to be prices that can be controlled; including the price of pork at 38,000 kip a kg, polished sticky rice at 7,500-8,000 kip a kg, 8,000-9,000 kip for polished white rice, 70,000-80,000 kip a kg for beef and 18,000-22,000 kip per kilo of fish.
The salary index this year increased 500 kip while last fiscal year the index was at 6,700 kip. Compared to many Asean countr ies, Laos is still at a lower index while the cost of living still remains higher than most.
