Prime Minister directs to strengthen price management and control measures

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

Telegram sent to: Ministers, Heads of ministerial-level agencies, Government agencies; Chairmen of People's Committees of provinces and centrally-run cities, stating:

In recent times, the Government, the Prime Minister, and the Steering Committee for Price Management have resolutely, promptly directed and firmly pursued the goal of stabilizing the macro economy, controlling inflation, promoting economic growth, ensuring major balances; promptly directed and issued support mechanisms and policies for people and businesses such as reducing lending interest rates, stabilizing the foreign exchange market, continuing to restructure debt repayment terms; implementing credit packages to support industries and sectors; reducing value added tax for a number of groups of goods and services; reducing environmental protection tax on gasoline; exempting, reducing, and extending taxes, fees, and land use fees to support businesses and people... which have been highly appreciated, supported, and appreciated by people, the business community, and public opinion.

Ministries, branches and localities have closely followed developments and practical situations, proactively implemented many solutions to effectively and promptly manage prices; strengthened price management and administration; promptly prepared plans to manage prices of State-priced goods and public services according to the market roadmap; proactively implemented solutions to supply and demand for essential goods such as food, foodstuffs, gasoline, etc., contributing to stabilizing price levels, controlling inflation, creating favorable conditions for people and businesses to develop production and business.

In the coming time, the pressure from the implementation of the market roadmap for State-managed goods has been delayed in the past; the cost of importing raw materials and fuel, and the cost of sea transport tend to increase; the implementation of salary regime reform... requires all levels and sectors to proactively assess and grasp the situation in order to promptly have response plans and appropriate, effective and practical solutions.

Faced with the above situation, in order to proactively have timely and effective policy responses, early, from afar, from the beginning, to avoid confusion and passivity in all situations, the Prime Minister requested:

Ministers, Heads of ministerial-level agencies, Chairmen of People's Committees of provinces and centrally-run cities continue to promptly implement the instructions of the Head of the Price Management Steering Committee; within the scope and field of management, step up the organization and implementation to closely monitor market developments, promptly implement solutions to ensure domestic supply and demand balance, stabilize prices, and prevent shortages, hoarding, speculation, and unreasonable price increases.

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

The functional unit ensures smooth supply, circulation and distribution of goods and services, especially for petroleum and strategic goods that are likely to 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 supervision of price declaration, price posting and price information disclosure measures in accordance with the law. Ministries, branches and localities regularly monitor information closely, grasp price developments of some goods that have a major impact on the consumer price index and organize inspections of compliance with price laws, strictly handle violations of price laws in accordance with regulations.

Relevant parties should focus on and concentrate resources on the work of building and perfecting institutions to implement and guide the 2023 Law on Prices, ensuring unity, synchronization and efficiency in implementation to create a complete legal corridor for price management and operation. Continue to implement the roadmap for adjusting public service prices according to the market roadmap and State-managed goods according to market principles, proactively assess the impact on inflation, calculate and prepare price options and price adjustment roadmaps for consideration and decision when necessary at appropriate levels and times, avoid causing major disruptions to price levels, do not increase prices suddenly or increase prices at the same time, ensuring the goal of controlling inflation.

The Ministries of Industry and Trade, Health, Education and Training, and Labor - Invalids and Social Affairs, according to their assigned functions and tasks, shall urgently review, report, and propose specific roadmaps associated with the level and expected time of price adjustment of goods and services under their management (medical examination and treatment services; electricity; educational services...), closely coordinate with the Ministry of Finance, the General Statistics Office and relevant agencies to carefully 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 shall preside over and coordinate with the Ministry of Planning and Investment, the State Bank of Vietnam, the General Statistics Office, relevant agencies and localities to promote the implementation of the work of synthesizing, analyzing, forecasting market prices, updating detailed, specific and timely price management scenarios for the remaining months of the year to advise the Government and the Prime Minister on appropriate and timely measures, ensuring the target of controlling inflation in 2024 within the limit of 4-4.5% in accordance with the Resolution of the National Assembly in all situations, striving for about 4%.

Proactively urge and synthesize the implementation of price management and operation of ministries, ministerial-level agencies, People's Committees of provinces and centrally-run cities to report to the Price Management Steering Committee for handling according to authority, and report to the Prime Minister if beyond authority.

Regarding the management and operation of prices of specific items, for petroleum products: The Ministry of Industry and Trade shall preside over and coordinate with relevant agencies to synchronously and effectively implement solutions to ensure the supply of petroleum for the domestic market, in all situations, to prevent shortages of petroleum and to manage petroleum prices according to regulations; to strengthen market inspection and supervision, strictly handle violations; absolutely do not allow shortages or interruptions in the supply of petroleum; to conduct specialized inspections on the implementation of electronic invoices.

For electricity, medical examination and treatment services and items under consideration for price adjustment: Ministries and agencies, according to their assigned functions and tasks, shall carefully review price formation factors, coordinate with the General Statistics Office to carefully assess the impact on the socio-economy and price levels to proactively have adjustment plans according to their authority or submit to competent authorities for consideration of price adjustment plans in accordance with developments and market price items in accordance with regulations with appropriate adjustment levels and timing, avoiding cost-push inflation resonance, creating expected inflation in the economy.

Regarding food and foodstuffs: The Ministry of Agriculture and Rural Development coordinates with the Ministry of Industry and Trade to closely monitor the production situation, price fluctuations of input factors, and market demand for essential agricultural products such as rice, pork, and agricultural materials to promptly regulate supply and demand of goods to serve domestic needs, between regions and localities, and export needs to stabilize market prices; not to allow shortages or scarcity of food and foodstuffs under any circumstances.

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

Regarding air transport services: The Ministry of Transport shall synchronously and effectively implement solutions to ensure and stabilize air transport capacity to provide appropriate and balanced load on domestic/international routes and markets, well meeting the air travel needs of passengers, especially during the upcoming peak summer season of 2024.

For educational services: The Ministry of Education and Training and the Ministry of Labor, War Invalids and Social Affairs shall proactively collect information on tuition fee adjustments of public vocational and higher education institutions for the 2024-2025 school year to have an overall assessment of the increase and implementation status; control and operate to prevent unreasonable increases in textbook prices and educational services that lead to consumer price inflation.

Regarding the price management of other important and essential goods, ministries, branches and localities, according to their assigned functions, tasks and authorities, proactively organize to closely monitor the developments of supply and demand and market prices of goods under their management to have appropriate and timely management measures, to avoid shortages and disruptions in goods sources, causing sudden price increases.

The Ministry of Information and Communications coordinates with ministries, branches and localities to continue to focus on promoting information, propaganda, transparency and honesty of price information: Effectively and promptly carry out communication and information work to the public before adjusting prices of State-managed goods to avoid inaccurate information, causing public confusion and damage to the State and consumers. Publicly and transparently disclose information on prices and price management of the Government, the Price Management Steering Committee, ministries, branches and localities; strictly handle cases of spreading false information causing confusion to consumers, causing market instability to stabilize the psychology of people and businesses, and control inflation expectations.

The Prime Minister assigned Deputy Prime Minister Le Minh Khai to directly monitor and direct ministries, agencies and localities in implementing this Official Dispatch.

The Government Office, according to its assigned functions and tasks, shall monitor and urge the implementation of this Official Dispatch; report to the Prime Minister on issues arising 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