City to stabilise price of goods

The municipal People’s Committee has approved a plan to stabilise prices and to ensure the supply of essential goods until the end of the year.

The plan will provide price stabilisation assistance to eight essential commodities: rice, sugar, cooking oil, red meat, poultry, fruits and vegetables, poultry eggs and processed foods.

Reserve stocks of these commodities will be maintained, which will equal at least 20 per cent of the city’s consumption in order to avoid any shortages or price fluctuations.

The committee will provide interest-free loans worth VND400 billion (US$21 million) to foodstuff companies that will participate in the plan from June 1 until the end of the year.

Nguyen Thi Hong, deputy chairwoman of the committee, assigned relevant departments and agencies to select the participating companies by May 25.

Participating companies will register their listed prices of essential commodities and these prices will be assessed and approved by relevant departments and agencies.

Under the plan, price-stabilised commodities will be sold at more than 1,500 outlets in the city. — VNS

Tags: Vietnam markets, Vietnam prices