Electricity price to be recalculated soon

The Price Management Steering Committee has just issued a notice of Deputy Prime Minister Vuong Dinh Hue's conclusion on market price management this year.

Accordingly, the Deputy Prime Minister requested the Ministry of Industry and Trade to closely follow the developments in world oil prices, regulate domestic oil prices appropriately, and flexibly use the oil price stabilization fund as a basis for ministries and branches to regulate prices of other goods under their authority.

Deputy Prime Minister Vuong Dinh Hue assigned the Ministry of Industry and Trade to study the average retail electricity price framework and calculate the appropriate time to adjust electricity prices. Photo: Hoang Ha.

The Ministry of Industry and Trade is also assigned to complete and submit to the Prime Minister the average retail electricity price framework based on calculating input and output parameters of electricity production and business activities and calculating the appropriate time to adjust electricity prices.

Along with that, the Ministry of Industry and Trade has issued a document requesting businesses selling milk for children under 6 years old to strictly declare prices and stabilize the market, especially during Tet.

He also requested the Ministry of Health to continue implementing the roadmap to adjust the prices of medical examination and treatment services paid by the health insurance fund for the remaining localities; urgently complete the legal framework on drug price management; urgently implement drug price bidding with the goal of reducing drug prices by 10-15% compared to the current price level.

The Deputy Prime Minister also assigned the Ministry of Transport to coordinate with the Ministry of Finance to promptly finalize and calculate financial plans for projects using BOT capital, prioritizing fee reduction over capital recovery time, and trying to reduce fees equally for all consumers to enjoy. He also requested strict control of service prices at airports.

Regarding transportation fares, he requested the Ministry of Transport to direct the Departments of Transport to closely monitor and review price declarations of business units, and implement price control, especially during the 2017 Lunar New Year.

He requested the State Bank of Vietnam to maintain stable interest rates, flexibly manage exchange rates, and strive to keep core inflation within 2%.

According to zing