The Ministry of Finance proposes localities to strengthen price stability

2 min read
Illustration. (Source: Minh Son/Vietnam+)

Following the direction of Deputy Prime Minister Le Minh Khai in Official Dispatch No. 3025/VPCP-KTTH dated May 8, 2021 on price management in 2021, in the face of complicated developments of the Covid-19 epidemic, the Ministry of Finance The Government has sent a written request to the People’s Committees of the provinces and centrally-run cities to strengthen the management, administration and stabilization of market prices in the area.

Specifically, localities closely monitor market price movements in their localities, thereby taking timely measures to stabilize prices in accordance with law, especially for consumer goods and services. Essential goods of the people, essential goods that are inputs for production in the area such as medical supplies for epidemic prevention, agricultural products in areas affected by the Covid-19 epidemic.

Localities work closely with ministries and sectors in the circulation of goods to avoid local price fever due to scarcity of goods or unfavorable price drops for agricultural products due to congestion in circulation and distribution; synthesize difficulties and problems and promptly report to the Price Steering Committee (through the Ministry of Finance) for direction.

In addition, localities have also strengthened the management of price declaration and listing prices, especially for medical supplies for epidemic prevention and control, and essential goods in the locality. Management levels strictly control price-forming factors for goods and services priced by the State, goods and services purchased from the State budget, public goods and services, and services. public career service.

The authorities need to conduct specialized and specialized inspection of prices, monitor market prices, strictly handle cases of violation of the law on prices. From there, the units actively calculate and formulate price plans for items valued by the State under the local price regulations, in which carefully assess the dosage and level of adjustment according to each stage to ensure the target of inflation control.

The announcement of the Ministry of Finance also emphasized that localities need to step up propaganda and timely information on the situation of the price market; publicity and transparency of price information, especially for goods and services subject to price declaration to minimize the impact of price increases due to psychological factors, inflation expectations, and avoid rumors. losses, affecting the market price level and people’s lives.

The ministry also noted that functional units continue to strengthen the work of synthesizing, analyzing and forecasting the price market, implementing the timely reporting regime as prescribed.

“Request the People’s Committees of provinces and centrally run cities to implement, in the course of implementation, there are problems to report to the Ministry of Finance to synthesize reports to the Price Steering Committee to consider directing the implementation,” the official dispatch states.

Source: – Translated by