MoT Proposes No Hikes of Electricity, Coal Prices
The Ministry of Trade (MoT) has proposed the Vietnam government not to raise the prices of electricity, coal, water and cement now in a bid to curb the CPI rise and keep market stability.
The MoT also said the government should direct the State Bank of Vietnam to remain the basic interest rate and the VND-USD exchange rate.
It said epidemics such as avian flu and foot-and-mouth disease along with purchasing power rise during big holidays and petrol price hikes will create pressure on price hikes of many goods in the market, especially the group of food and foodstuff products.
Thus, tough measures must be taken to prevent the speculation of these goods to increase prices, the ministry said.
The MoT forecast that prices of food and foodstuff will continue to go up in the coming time due to impacts of increasing world prices and avian flu and foot-and-mouth disease epidemics.
The ministry also asked the Competition Management Department to inspect and appraise the information that Chinese rolled steel is sold at “unusual” low prices on the Vietnamese market.
The government’s market management group said the CPI in Vietnam is estimated to soar 0.6 per cent this month, higher than the rates recorded in last three months.
Vietnam & World Economy, Liberated Saigon
Vietnamese
