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HCMC controls sea, river produce prices
River produce and seafood are set to be added to the basket of goods whose prices are controlled under the annual Price Stabilisation Programme, a HCM City official said.
Speaking at a meeting with City administrative departments earlier this week, Deputy Chairwoman of the People's Committee, Nguyen Thi Hong, said the 2011 price stabilisation programme, starting on April 1, will cover nine items, the existing ones being rice, sugar, cooking oil, eggs, poultry and meat, processed foodstuffs, and vegetables.
The programme would last until Tet (The Lunar New Year) in February 2012.
Hong said businesses joining the programme would supply 20 to 25 per cent of the market demand and the figures would rise to 30 - 40 per cent during Tet.
Hong said the new prices and the names of newcomers would be announced on April 1, but revealed that eight new firms would join the 14 that took part in the 2010 programme which ends today.
The prices of the goods - to be at least 10 per cent lower than market prices - will be fixed by the companies themselves who will then have to register them with the Department of Finance.
They can subsequently hike the prices if the cost of materials and production rise by more than 15 per cent.
On the other hand, if the prices are just 5 per cent lower than in the market, they must reduce them until the gap reaches at least 10 per cent.
The City will provide interest-free loans worth VND412 billion (US$19.6 million) to the participating firms this year, 32.6 per cent higher than last year.
vietnamnews
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