Hanoi (VNA) – Deputy Prime MinisterVuong Dinh Hue required ministries, sectors and localities to control theconsumer price index (CPI) between 3.3-3.9 percent in 2019 while chairing aconference of the National Steering Committee on Price Management in Hanoi onJanuary 17.

This goal was set to meet the requirements ofthe Government’s Resolution 01/NQ-CP dated January 1, 2019 controlling CPI below4 percent, said Hue, who is also head of the committee.

He added that this scenario has been calculatedon the basis of adjusting the prices of petroleum products, pork, andcontinuing to bring the salary structure and a part of management costs intohealth services and electricity prices.

The Deputy PM requested to continue managingbasic inflation between 1.6-1.8 percent this year, and suggested the GeneralStatistics Office under the Ministry of Planning and Investment to supplementand adjust the price management scenarios according to the above target.

For adjustments to electricity prices this year,Hue required inputs to be transparent and kept under control, as well asadjusting electricity prices synchronously with gas prices for consumption andcoal prices for electricity production.

The adjustment of electricity prices must aim atattracting energy investors and reducing costs for production and consumption,he said. The power sector should strengthen technology and restructuring ofproduction and labour to continue cutting production costs.

Meanwhile, the Ministry of Industry and Tradehas built a scenario to manage petrol prices for the year on the basis ofclosely following global petrol and oil prices. The ministry has a plan onusing the petrol price stabilisation fund and adopting policies to encourageuse of bio fuel.

The Ministry of Health was asked to calculatesalaries and management into the cost of examination and treatment services. Itmust coordinate with the Vietnam Social Security to continue expanding the listof drugs and medical equipment and materials under auction and negotiate toreduce the price of medicines.

“In the first quarter of 2019, ministries mustensure supply to avoid a ‘fever’ on goods and price hikes as well as focus onbringing goods to remote areas and cities with many workers. That will ensurethe lowest inflation growth rate in February 2019,” Hue said.

Deputy Minister of Industry and Trade Do ThangHai said the industry and trade sector has organised production anddistribution of goods for the Lunar New Year to these areas to avoid such afever.

At the meeting, the steering committee reportedthat in 2018, price management and inflation control were successful with CPIgrowth at 3.54 percent, much lower than the target of about 4 percent.

This is the third consecutive year withinflation controlled at below 4 percent, making an important contribution tothe country’s socio-economic development and building trust with people andbusinesses.

This success was attributed to the ministriesand sectors’ management of prices according to market principles and globalprice fluctuations. They had operating scenarios for each month and eachquarter from the beginning of the year based on scientific calculations.-VNA