ID :
31194
Thu, 11/20/2008 - 09:04
Auther :
Shortlink :
https://oananews.org//node/31194
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Ministry lays down price controls
Hanoi (VNA) - The Ministry of Finance will begin controlling the prices of 15 essential commodities, according to a directive issued early this week.
Under Directive No 104/2008/TT-BTC, the ministry will take measures to
stabilise the prices of these commodities when necessary, particularly in
the case of natural disasters, fires, epidemics, economic crises or monopoly
price-fixing.
The list includes petrol, steel, gas, fertiliser, cement, rail fares,
drugs and veterinary medicines, pesticides, rice, salt, milk, sugar and
animal feed.
The ministry will control these prices through market and administrative
measures, including adjusting supply and demand and financial and monetary
measures, if they increase by 15-20 percent within 15 consecutive days.
These measures can be applied for all of the commodities listed except for
petrol.
For petrol, the Government will continue to follow Decree No 55/2007/ND-CP
issued in April 2007. According to the decree, the Government allows petrol
distributors and dealers to set retail prices. However, the Government
continues to monitor and can adjust prices if they become too high. It will
also interfere if there are signs of a monopoly or stockpiling of oil to
raise prices.
Under this decree, businesses who want to increase petrol prices must
register with the finance and industry and trade ministries one or two days
in advance. The twoministries can ask the companies to reconsider their
decision if the price is not justifiable.
As for the listed commodities, if their prices are considered
unreasonable, the finance ministry will be able to force businesses to
adjust their price to level considered acceptable.
The ministry will take measures against violators including fines,
confiscation of profits from price increases or the withdrawal of business
licences.
Under the new directive, other than the 15 commodities listed, businesses
dealing in 20 other products and services were also instructed to register
their prices with authorities. Another eight products were instructed to
have price labels on the package.-Enditem
Under Directive No 104/2008/TT-BTC, the ministry will take measures to
stabilise the prices of these commodities when necessary, particularly in
the case of natural disasters, fires, epidemics, economic crises or monopoly
price-fixing.
The list includes petrol, steel, gas, fertiliser, cement, rail fares,
drugs and veterinary medicines, pesticides, rice, salt, milk, sugar and
animal feed.
The ministry will control these prices through market and administrative
measures, including adjusting supply and demand and financial and monetary
measures, if they increase by 15-20 percent within 15 consecutive days.
These measures can be applied for all of the commodities listed except for
petrol.
For petrol, the Government will continue to follow Decree No 55/2007/ND-CP
issued in April 2007. According to the decree, the Government allows petrol
distributors and dealers to set retail prices. However, the Government
continues to monitor and can adjust prices if they become too high. It will
also interfere if there are signs of a monopoly or stockpiling of oil to
raise prices.
Under this decree, businesses who want to increase petrol prices must
register with the finance and industry and trade ministries one or two days
in advance. The twoministries can ask the companies to reconsider their
decision if the price is not justifiable.
As for the listed commodities, if their prices are considered
unreasonable, the finance ministry will be able to force businesses to
adjust their price to level considered acceptable.
The ministry will take measures against violators including fines,
confiscation of profits from price increases or the withdrawal of business
licences.
Under the new directive, other than the 15 commodities listed, businesses
dealing in 20 other products and services were also instructed to register
their prices with authorities. Another eight products were instructed to
have price labels on the package.-Enditem
