PM Nguyen Tan Dung has urged agencies to prevent a return of inflation by tightening control over market prices, and warned that tough action would be taken against anyone using the Government’s price adjustment to push prices up excessively.
The Prime Minister’s directive on measures to restrain inflation this year, released in Official Letter 1269/VPCP-KTTH on February 27, also urged agencies to fight monetary speculation.
Following the recent petrol price hike and in preparation for the official upward price adjustment of some key commodities, including electricity (March 1), the PM asked the Ministries of Industry and Trade, Construction, and Agriculture and Rural Development to balance supply and demand for essential goods, such as rice, cement, iron, steel, steel, petrol, oil, and fertilizers.
The PM asked the Ministry of Information and Communications to publicize the government’s price policies, PM Dung said.
The State Bank of Vietnam must take measures to strengthen management of the financial monetary market, ensure the liquidity of the economy, prevent inflation, and provide more loans for businesses, he said.
He also asked the central bank to fight currency speculation; keep an eye on trade of gold and foreign currencies; and implement the Prime Minister’s instructions on buying foreign currencies from credit institutions and economic groups.
He asked the Ministries of Finance, and Industry and Trade to follow the Government’s instructions to support businesses that were struggling under the new price-regulating policies.
He also ordered agencies concerned and chairpersons of people’s committees of provinces and cities to ensure price stability and supply of essential commodities, particularly consumer goods and services and transport fees.
He asked for strict policing of the pricing policies to prevent inflation.
Meanwhile, a number of retail traders at some markets in Hanoi and Ho Chi Minh City have inflated their prices of food, especially vegetables, and some other consumer items. Experts said they should incur severe penalties.
