The trade and industry sector will further implement domestic trade promotion programs to contribute to stabilizing market prices

 The recent online meeting between the Government, leaders of several ministries, departments and businesses indicated that the trade and industry sector has been facing two challenges at the end of the year, including electricity supply for production and stabilization of market prices.

 

Stabilization of market prices gets tense

 

The balance between supply and demand of 12 essential commodities, including food, steel, petrol & oil, medicine…will be ensured at year’s end, according to relevant ministries and departments. But, they also need to strength inspection and raise the responsibility of businesses in ensuring the balance between supply and demand.

 

According to leaders of Ha Noi, there have been still some elements affecting the customer price index, comprising of exchange rates, high lending interest rate…Hence, the Ha Noi People’s Committee has suggested departments and credit organizations to reconsider the lending interest rates…

 

The Government, businesses and Vietnam National Petroleum Corporation (Petrolimex) also said that the domestic goods market will see fluctuations in the three remaining months of the year. The domestic economy will also face difficulties and challenges. The increasing trend of the goods prices in the world; the adjustment for electricity, water, petrol prices; bad weather; diseases in plants and animals; the lack of power for production…are likely to lead to the increase of market prices at year’s end, said Minister of Finance Vu Van Minh. Therefore, in addition to programs to stabilize market prices, the Government needs to make efforts in stabilizing the oil and petrol prices from now till the end of the year to ease pressure on production and trading activities…

 

Taking initiative in stabilizing market prices

 

At the meeting, Deputy Minister Hoang Trung Hai spoke highly of departments, localities and businesses for their good performance in ensuring the balance between supply and demand and stabilizing markets prices over the past time. He said that localities need to recheck and balance goods sources at people’s customer demand on the upcoming Tet holiday.

 

Mr.Hai also asked for the Ministry of Trade and Industry to step by step make planning for the goods distribution system in localities while noticing that the lack of electricity is likely to occur at year’s end, which will affect the balance between supply and demand….

 

Reported by Truc Quynh-Translated by K.T