PM spells out measures to stabilize prices in rest of 2010

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SaiGon GP English - 53 month(s) ago 2 readings

PM spells out measures to stabilize prices in rest of 2010

Prime Minister Nguyen Tan Dung October 11 ordered ministries, relevant agencies and people’s committees to adopt measures to stabilize prices and the market in the last months of the year.

Shoppers at Ben Thanh Market in Ho Chi Minh City during Tet (Photo: SGGP)

He said the rest of the year might see difficulties in production funds, power supply, demand and supply as well as prices of essential goods.

To ensure this year’s economic growth rate of 6.5 percent and consumer price index of 8 percent, measures to stabilize the macro-economy and boost production have to be implemented drastically, he added.

He said ministries of Industry and Trade, Agriculture and Rural Development, Health, and Construction have to complete and announce their plans for developing production and distribution systems of staple goods including petrol, fertilizer, construction steel, cement, food, and medicine in the fourth quarter at the latest.

The Ministry of Industry and Trade was ordered to check production capacity and supply system to formulate concrete plans to ensure sufficient supplies of essential goods and services for production and consumption until the first quarter of 2011 and especially during Tet (lunar New Year) 2011.

The Ministry of Finance was asked to order relevant agencies to control pricing factors, determine prices of essential goods, and keep prices of power and coal sold to producers of cement, fertilizer and paper stable.

PM Dung ordered the State Bank of Vietnam to introduce appropriate policies to enable commercial banks to withdraw money from circulation quickly, thus it will help reduce pressure of price hikes, especially in the end of the year when big money will be needed for payment of projects and bonuses.

The Ministry of Agriculture and Rural Development was asked to steer food companies to supply sufficient foods, keep prices stable, and organize distribution systems in industrial parks, and residential and flood-hit areas.

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