HCM City tells authorities to keep prices stable

HCM CITY — The HCM City People's Committee has ordered local authorities to ensure availability of goods and stable prices until the end of this year.

Nguyen Thi Hong, deputy chairwoman of the People's Committee, said they would be held responsible if there are any unusual price spikes within their jurisdiction.

The city has a programme for keeping the prices and supply of eight essential goods – rice, sugar, cooking oil, red meat, poultry, fruits and vegetables, eggs, and processed foods – stable until March next year.

It has entered into an agreement with selected producers and distributors under which they will get interest-free loans in return for keeping their prices 10 per cent below market level.

The Department of Industry and Trade on Tuesday began to inspect these companies to ensure their production is on course to supply the market.

Food company Vissan, one of the participating firms, said it is raising 40,000 pigs for slaughter in the next three months to prevent a shortage amid the outbreaks of blue-ear disease in many provinces.

Hong said Vissan and Sagri, another participant, account for more than 40 per cent of the city's pork supply.

Supply of poultry meat and eggs too will be adequate this year since the bumper summer-autumn rice crop has led poultry farmers and companies to increase their stock by 30 per cent, she said.

Rice and sugar stocks at participating companies are now up to three times higher than the amount they were ordered to hold, according to the Department of Industry and Trade.

Hong said the city will continue to monitor the participants to ensure they honour their commitments.

Besides the 2,085 outlets in the city that are selling goods under the programme, more will be opened soon in industrial parks and rural and remote areas, she added. — VNS