Hanoi makes effort to keep price stable

Trung Kien

Jul 01, 2017 / 11:58 AM

According to Official Letter 3050/UBND-KT issued on June 26, Hanoi People’s Committee requests city’s agencies and sectors, district people’s committees to enhance price management.

Accordingly, Hanoi People’s Committee requested the Department of Finance to keep close watch over movement of market price and report to the Ministry of Finance and the Hanoi People’s Committee. In case of unusual price fluctuations, the Department shall act as advisor to Hanoi People’s Committee to take measures to keep prices stable; cooperate with relevant agencies and sectors to check whether business organizations and individuals abide by legal regulations on price registration, price declaration, price listing and sale; tighten control over prices for products and services fixed by the Government according to the market principle; supervise subsidized products and services..

The Department of Industry and Trade is requested to proactively supervise and forecast the market movement, and keep balance for supply and demand of prime consumption products and services; timely report to the Hanoi People’s Committee, and suggests measures to guarantee adequate supply of essential commodities and meet the people’s demand; cooperate with enterprises to organize distribution system, increase stock, and prevent supply - demand unbalance which might lead to unusual price increase, especially of prime products; cooperates with departments and sectors to launch price stabilization program for essential commodities, and publicize information about the city’s program for all enterprises and people.

The Market Surveillance Department increases examinations and market control, enhances the fight against smuggling and transport of banned, smuggled goods; production and trade of fake, low-quality, unsafe products as well as products of unclear origin; severely punishes speculation and fraud in measurement and packaging; handles false information which destabilizes the market.

According to their functions and missions, the departments and agencies of Hanoi execute and disseminate policies on price management, and act as advisors to the People’s Committee in taking measures to stabilize prices in the city.

The district people’s ommittees proactively coordinate with relevant agencies to perform tasks in the area under their management; direct the sections of planification and to supervise demand - supply and market price of prime commodities according to regulations in Circular 55/2011/TT-BTC dated April 29, 2011 of the Ministry of Finance, and report to the Department of Finance; the latter sums up information and reports to Ministry of Finance as well as the People’s Committee by the 20th day of each month; instruct specialized agencies to increase examination, focusing on compliance with legal regulations on price, charge, speculation handling and false information which lead to price increase and market instability, especially for prime goods and services; increase examination of parking, and severely handle violations; eliminate roadside markets, illegal and unsafe parking places and business places. If organizations and individuals repeat their violations, their licenses of using pavements for parking will be revoked.

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