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Strictly control the market, strictly handle cases of “following” gasoline prices to make profit

Facing the recent situation, especially in recent days, the prices of some domestic products have increased, due to gasoline prices On the afternoon of March 14, Deputy Prime Minister Le Minh Khai, Head of the Price Management Steering Committee, had a meeting with a number of ministries, sectors and localities on the management of prices of a number of important and essential commodities. petroleum, raw materials, fuel materials, iron and steel, fertilizers, agricultural products, medical services…).

Strictly control the market, strictly handle cases of

Deputy Prime Minister Le Minh Khai, Head of the Steering Committee for Price Management, had a meeting with a number of ministries, sectors and localities on the price management of a number of important and essential commodities. (Photo VGP/Quang Thuong)

After the meeting at the bridge point of the Government Office, there were leaders of the Government Office; leaders of the Ministries: Finance, Industry and Trade, Planning and Investment, State Bank, Construction, Transport, Agriculture and Rural Development, Natural Resources and Environment, Health, General Administration At the local bridge, there were leaders of the People’s Committees of the provinces and cities directly under the Central Government: Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Can Tho, Lang Son, An Giang.

OLDPrice management will be very difficult

Presenting the report at the meeting, Deputy Minister of Finance Ta Anh Tuan stated: Faced with fluctuations in prices of some goods, raw materials, fuel and materials over the past time, the Government and Government leaders have directed synchronously implement solutions and measures on management and administration to stabilize prices, limit fluctuations in the price level that have negative impacts on socio-economic development, production and business activities and people’s life.

The report emphasizes that the reality in the first two months of the year shows that the Government, the Prime Minister and the ministries and local agencies have proactively grasped the situation and taken timely solutions on price management.

According to the Ministry of Finance, up to now, the price level is still basically under control. However, the price movements of goods and raw materials in the world continued to increase. This puts great pressure on production costs and supply. Price management until the end of the year is very difficult and must not be subjective.

Strictly control the market, strictly handle cases of

Deputy Minister of Finance Ta Anh Tuan reported on the price management of a number of important and essential commodities. (Photo VGP/Quang Thuong)

World gasoline prices continue to “anchor” at a high level

The report of the Ministry of Finance also summarizes the developments, comments and proposes solutions and measures to operate a number of important and essential commodities.

Specifically, for petroleum products, after a sudden increase in the past 2 weeks, world oil prices have shown signs of slowing down in recent days.

However, geopolitical tensions continue to fluctuate rapidly and unpredictably. The parties continue to apply sanctions. In that context, most of the organizations said that oil price could continue to stay at a high level of 110 – 130 USD/barrel in the coming period. The possibility of oil prices rising to 150 USD/barrel is not excluded.

Emphasizing that domestic petroleum products are currently under great pressure in terms of supply for consumer demand and world price movements, the Ministry of Finance proposed the Ministry of Industry and Trade to continue implementing administrative measures to stabilize supply. ; grasping forecasts and movements of world petrol and oil prices in order to have appropriate management plans; use a reasonable and flexible price stabilization fund to limit the increase in domestic gasoline prices.

At the same time, the Ministry of Finance requested to organize the implementation and direct the localities to strengthen the inspection and control of the market; strictly handle acts of speculation, hoarding, taking advantage of petrol and oil price movements to increase unreasonable prices of goods and services…

Petrol price hike puts great pressure on transportation

According to the Ministry of Finance, the increase in petrol prices has put pressure on passenger and freight transport services by road. Currently, transport businesses are calculating to increase freight rates.

The Ministry of Finance proposed the Ministry of Transport to guide and direct the Departments of Transport of provinces and cities to advise the People’s Committee to closely monitor gasoline price movements; on that basis, strengthen the organization to review the enterprise’s price declarations to assess whether the price increase is consistent with the fluctuations of input factors, especially the cost of petrol in the shape factors. cost price; strengthen inspection of the observance of listed prices and collection of tickets at the right listed prices of businesses. Strictly handle acts of taking advantage of unreasonable price increases, collecting higher than the listed price.

The Ministry of Finance said that the price of construction steel in the domestic market may continue to increase due to the cost of raw materials and increased domestic demand when key projects are accelerated. In the coming time, the price of main industrial feed ingredients will continue to increase due to limited supply.

In addition, the Ministry of Finance also made a number of recommendations for the price management of a number of essential commodities such as: LPG; cement; pork; urea fertilizer; rice; price of SARS-CoV-2 virus testing service, price of medical supplies and equipment.

Strictly control products affected by petrol and oil prices

Based on the assessment of the price movements of goods and services in recent years, the Ministry of Finance forecast that the CPI in March may continue to be at a high level because it is mainly affected by the increase in gasoline prices.

However, it is forecasted that the average CPI in the first 3 months will be between 2 and 2.1% and still within the price management scenario set out at the beginning of the year.

According to estimates of the Ministry of Finance, if assuming that CPI in the remaining months increases at the same rate as compared to the previous month, in the remaining 9 months, CPI each month has room to increase by 0.5% to meet the target. inflation control around 4%.

In order to proactively respond to challenges in price management in the remaining 9 months of 2022, the Government and Government leaders have issued documents directing specific solutions on price management. in 2022 such as: Document No. 882/VPCP-KTTH dated February 10, 2022, Notice No. 65/TB-VPCP dated March 2, 2022. The Ministry of Finance proposed that ministries, branches and localities continue to accelerate the implementation until the end of the second quarter of 2022, have detailed plans, and assign specific tasks to functional units in the system to promote perform. In particular, it is recommended to focus on the following measures:

Firstly, the State Bank will continue to implement an active and flexible monetary policy in close coordination with fiscal policy and other macroeconomic policies in order to control inflation according to the set target. Time to contribute to supporting and removing difficulties for production, business and people’s lives affected by the COVID-19 pandemic. Continue to control core inflation in 2022 to create a basis for general inflation control.

Continue to closely monitor the world economic situation, general inflation, price movements of fuel and strategic materials. On that basis, step up the work of synthesis, analysis, forecasting, pre-elaboration of scenarios and response plans in case goods on the world market continue to increase in order to control production in the near future. water, balance supply and demand and manage, stabilize prices appropriately.

Implement stabilizing measures when there is a big upheaval

Proactively and synchronously deploy the proposed solutions for each item to stabilize the market price level. Focus on removing difficulties for production and business to prepare a full supply of goods to meet demand. consumer demand, facilitating the circulation and distribution of goods and services. In case of large fluctuations in prices, based on the provisions of the Law on Prices to propose and organize the implementation of appropriate price stabilization measures.

The Ministry of Finance proposes the People’s Committees of the provinces and centrally-run cities to perform the state management of commodities according to their competence, strengthen the inspection and supervision of the implementation of the following measures: Declare prices; price listing; publicize information on prices; check the observance of the law on prices.

The Ministry of Finance proposed localities to strictly handle cases of speculation, hoarding and unreasonable price increases. Actively inspecting price-forming factors according to the provisions of the Law on Prices and according to authority when goods have abnormal fluctuations.

Continue to focus on information, propaganda, publicity and transparency of price information to control inflation expectations; limit false information that causes confusion for consumers, causing market instability.

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