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Ministry proposes government to delay electricity price increase
The Deputy Minister of Industry and Trade, Nguyen Cam Tu, has submitted a proposal to the Prime Minister to recalculate the price of electricity and coal to better suit the current economic climate.
Energy bills for 2009 were set in 2008.
According to an advisory panel, the consumer price index is decreasing but inflation is still high, reducing purchasing power. Production has been brought to a standstill in the first four days of the year due to increased energy costs, this will result in a rise in general costs of goods.
The panel has also proposed a stimulus package of $6 billion to help resolve problems in domestic production.
They also suggest that the government needs to direct the ministry to keep a closer eye on various goods imported from China.
The panel has advised the government to direct the central bank support loans for sugar manufacturers to help them purchase sugar-cane from farmers.
The price of electricity is predicted to increase by a minimum of 20 percent and a maximum of 30 percent in 2009-2010.
Currently, electricity prices are around VND850 per kilowatt.
SGGP
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