HÀ NỘI — Việt Nam’s Ministry of Industry and Trade (MoIT) has called on businesses to lower the prices of goods in line with falling domestic fuel prices, saying companies should adjust selling prices to reflect lower input costs while authorities step up inspections of pricing violations.
Speaking at the Government’s monthly press briefing on Saturday, Deputy Minister Nguyễn Sinh Nhật Tân said the ministry had worked closely with other agencies, local authorities and businesses to ensure adequate fuel supplies and maintain flexible fuel price management under the Government’s direction.
“The fuel supply has been largely secured, and price management has been carried out flexibly. The results have been recognised by the Party and Government leadership,” Tân said.
He said the ministry would continue implementing the Government’s directives to ensure stable fuel supplies while managing prices in a way that balances the interests of the State, businesses and consumers.
Addressing concerns that many goods have not become cheaper despite significant declines in domestic fuel prices, Tân said businesses should promptly eliminate the practice of using fuel price fluctuations as a pretext for unjustified price increases.
According to the deputy minister, companies should proactively review their cost structures and adjust prices in line with lower fuel costs and market conditions.
“If fuel prices have fallen, then our prices should also come down. That is a very basic principle,” he said.
To enforce pricing regulations, the ministry has instructed market surveillance authorities nationwide to intensify inspections and crack down on violations, including failures to display prices, selling above listed prices and other pricing violation.
Tân said market surveillance authorities had already handled numerous violations and would continue strengthening inspections to prevent businesses from profiteering from market fluctuations. — VNS
