Prime Minister Nguyen Tan Dung on November 30 called on ministries, sectors and local agencies to continue to boost production of goods and supply, and ensure a stable market during Tet (Lunar New Year) next February and the first quarter of 2011.  

The PM said though the Government has adopted many measures to step up production and ensure price stabilization and the balance of supply and demand for goods and services since the beginning of this year, the consumer price index (CPI) rose to 9.58 percent in November, impacting production and people’s lives. 

 

The CPI of November increased by 1.86 percent over the previous month. This figure was an increase of 11.09 percent over the same period last year.

The national average CPI in 11 months exceeded the annual forecast with a year-on-year increase of 8.96 percent.

At the beginning of this year, the Government targeted a nationwide CPI of eight percent.
PM Dung said the cause of the problem was a few organizations and individuals that did not take price management seriously.

Speculation and groundless rumors about goods shortage and financial situation haven’t been controlled and prevented promptly, affecting implementation of the Government’s measures against inflation and for ensuring social welfare.

He instructed ministers and local authorities to focus on removing legal barriers and create favorable conditions for enterprises to expand production and business to ensure smooth provision of essential commodities like rice, poultry, meat, vegetables, milk, construction materials, medicines and travel services.

He wanted producers to forecast demand to ensure adequate supply nationwide before, during and after the festival.

The Ministry of Finance was assigned to co-ordinate with other relevant ministries and localities to maintain the prices of coal, electricity and petrol.

He wanted the ministry to reschedule adjustment of prices of goods and services that are subject to the State’s pricing control. 

He told the State Bank of Vietnam to take strong measures to stabilize the prices of gold and foreign currencies as well as interest rates.

The bank was asked to keep watch on the market and give severe punishments to those who speculate or corner gold and foreign currencies on the market.

The Ministry of Industry and Trade was ordered to adopt solutions to ensure sufficient supply of goods, and encourage enterprises to attend the price stabilization program and expand their distribution systems to rural and remote areas.

He also instructed market agencies to keep a close eye on things to prevent speculation, smuggling, and trade fraud, and apply criminal prosecution if necessary.

Source: SGGP