The Prime Minister directed to strengthen measures to manage and operate prices.

Prime Minister Pham Minh Chinh has just signed and issued Official Dispatch No. 61/CD-TTg dated June 22, 2024, on strengthening measures to manage and control prices.

The official dispatch sent to: Ministers, Heads of ministerial-level agencies, agencies under the Government ; Chairmen of People's Committees of provinces and centrally-administered cities, clearly states:

Over the past period, the Government, the Prime Minister, and the Steering Committee for Price Management have decisively and promptly directed and steadfastly pursued the goal of stabilizing the macroeconomy , controlling inflation, promoting economic growth, and ensuring major balances; they have promptly directed and issued mechanisms and policies to support people and businesses, such as reducing lending interest rates, stabilizing the foreign exchange market, and continuing to restructure debt repayment terms; implementing credit packages to support industries and sectors; reducing value-added tax on some groups of goods and services; reducing environmental protection tax on gasoline and diesel; and exempting, reducing, and extending taxes, fees, and land use fees to support businesses and people... These efforts have been met with approval, support, and high praise from the people, the business community, and public opinion.

Ministries, sectors, and localities have closely monitored developments and practical situations, proactively implementing many effective and timely price management solutions; strengthening price management and control; preparing early plans for managing prices of state-regulated goods and public services according to market-based roadmaps; proactively implementing supply and demand solutions for essential goods such as food, fuel, etc., contributing to stabilizing price levels, controlling inflation, and creating favorable conditions for people and businesses to develop production and business.

In the coming period, pressure from the implementation of the market-based roadmap for state-managed goods, which has been delayed in the past; rising import costs of raw materials and fuel, and increasing sea transport costs; and the implementation of salary reforms... require all levels and sectors to proactively assess and understand the situation in order to promptly develop appropriate, effective, and practical response plans and solutions.

Given the above situation, in order to proactively respond with timely and effective policies, from the outset, from the source, and to avoid confusion and passivity in all situations, the Prime Minister requests:

Ministers, heads of ministerial-level agencies, and chairpersons of People's Committees of provinces and centrally-administered cities should continue to promptly implement the directives of the Head of the Price Management Steering Committee; within their respective areas of management, they should strengthen the organization and implementation of close monitoring of market developments, promptly implement solutions to ensure a balance between domestic supply and demand, stabilize prices, and prevent shortages, hoarding, speculation, and unreasonable price increases.

Relevant parties closely monitor price developments of strategic commodities in the world market, global and regional developments, proactively analyze and forecast, and promptly warn of risks affecting domestic price levels. They also promptly take action within their authority or propose and advise competent authorities on timely, appropriate, flexible, and effective response measures, solutions, and scenarios.

The relevant authorities must ensure the smooth operation of the supply, circulation, and distribution of goods and services, especially petroleum products and strategic commodities that may be affected by disruptions in the global supply chain and geopolitical conflicts and tensions. At the same time, it is necessary to strengthen the effective implementation and monitoring of measures for price declaration, price listing, and public disclosure of price information as prescribed by law. Ministries, sectors, and localities should regularly monitor information and price fluctuations of certain commodities that significantly impact the consumer price index, and organize inspections of compliance with price laws, strictly handling violations of price laws as prescribed.

Relevant stakeholders should focus resources on building and perfecting the institutional framework for the implementation and guidance of the 2023 Price Law, ensuring uniformity, consistency, and effectiveness in implementation to create a complete legal framework for price management and control. Continue implementing the roadmap for adjusting prices of public services according to market principles and goods managed by the State according to market principles. Proactively assess the impact on inflation, calculate and prepare price adjustment options and roadmaps for consideration and decision when necessary, at appropriate levels and times, avoiding major disruptions to the overall price level, preventing sudden or concentrated price increases, and ensuring the goal of controlling inflation.

The Ministries of Industry and Trade, Health, Education and Training, and Labour, Invalids and Social Affairs, according to their assigned functions and tasks, are urged to promptly review, report, and propose specific roadmaps, along with the level and expected timing of price adjustments for goods and services under their management (medical examination and treatment services; electricity; education services, etc.). They should closely coordinate with the Ministry of Finance, the General Statistics Office, and relevant agencies to thoroughly assess the impact on the consumer price index and specific inflation control targets and scenarios, and report to the Prime Minister before June 30, 2024.

The Ministry of Finance, in coordination with the Ministry of Planning and Investment, the State Bank of Vietnam, the General Statistics Office, and relevant agencies and localities, will accelerate the implementation of comprehensive analysis and forecasting of market prices, and update detailed and specific price management scenarios in a timely manner for the remaining months of the year. This will enable them to advise the Government and the Prime Minister on appropriate and timely measures to ensure that inflation in 2024 is controlled within the 4-4.5% limit as stipulated in the National Assembly Resolution, striving for approximately 4% under all circumstances.

Actively monitor and compile reports on the implementation of price management and control by Ministries, ministerial-level agencies, and People's Committees of provinces and centrally-administered cities, reporting to the Price Management Steering Committee for direction and handling within their authority; if exceeding their authority, they should report to the Prime Minister.

Regarding the management and regulation of prices for specific commodities, specifically petroleum products: The Ministry of Industry and Trade will take the lead and coordinate with relevant agencies to implement comprehensive and effective solutions to ensure the supply of petroleum products to the domestic market, preventing shortages in all situations and regulating petroleum prices according to regulations; strengthen market inspection and supervision, strictly handle violations; absolutely prevent shortages and disruptions in the supply of petroleum products; and conduct thematic inspections on the implementation of electronic invoices.

For electricity, medical examination and treatment services, and other items subject to price adjustments: Ministries and agencies, according to their assigned functions and duties, shall carefully review the factors that determine prices, coordinate with the General Statistics Office to thoroughly assess the impact on the socio-economic situation and the overall price level, and proactively develop adjustment plans within their authority or submit them to competent authorities for consideration. These adjustment plans should be consistent with market price developments and regulations, with appropriate levels and timing, avoiding cost-push inflation and the creation of inflationary expectations in the economy.

Regarding food items: The Ministry of Agriculture and Rural Development, in coordination with the Ministry of Industry and Trade, closely monitors production, price fluctuations of input factors, and market demand for essential agricultural products such as rice, pork, and agricultural supplies. This is to promptly regulate supply and demand to meet domestic needs, across regions and localities, and for export, thereby stabilizing market prices and preventing food shortages under any circumstances.

Regarding construction materials: The Ministry of Construction and the Ministry of Industry and Trade will closely monitor the situation and developments in the construction materials market, especially key materials, and proactively implement, within their authority or report to higher authorities, solutions to ensure supply and demand and stabilize construction material prices.

Regarding air transport services: The Ministry of Transport is implementing comprehensive and effective solutions to ensure and stabilize air transport capacity to provide appropriate and balanced load on domestic and international routes and markets, meeting the air travel needs of passengers, especially during the upcoming peak summer season of 2024.

Regarding educational services: The Ministry of Education and Training and the Ministry of Labour, Invalids and Social Affairs should proactively gather information on tuition fee adjustments for public vocational and higher education institutions for the 2024-2025 academic year to conduct a comprehensive assessment of the increase and implementation status; control and manage to prevent unreasonable increases in textbook prices and educational services that could lead to consumer price inflation.

Regarding the management of prices for other important and essential goods, ministries, sectors, and localities, according to their assigned functions, tasks, and authority, should proactively monitor closely the supply and demand and market prices of goods under their management to take appropriate and timely measures, preventing shortages and disruptions in supply that could lead to sudden price increases.

The Ministry of Information and Communications, in coordination with other ministries, sectors, and localities, continues to focus on promoting information dissemination, publicizing transparency and honesty regarding prices: Effectively and promptly communicating information to the public before adjusting prices of state-managed goods to avoid inaccurate information that could cause public panic and harm the State and consumers. Publicly and transparently disseminating information on prices and the Government's price management work, the Price Management Steering Committee, ministries, sectors, and localities; strictly handling cases of spreading false information that causes consumer panic and market instability to stabilize public and business sentiment and control inflationary expectations.

The Prime Minister has assigned Deputy Prime Minister Le Minh Khai to directly monitor and direct the implementation of this directive by ministries, agencies, and localities.

The Government Office, in accordance with its assigned functions and duties, shall monitor and urge the implementation of this Directive; and report to the Prime Minister on any issues arising that are beyond its authority.

Source: https://baohanam.com.vn/kinh-te/thu-tuong-chi-dao-tang-cuong-cac-bien-phap-quan-ly-dieu-hanh-gia-126444.html