The electricity price will remain unchanged from now to Tet (Lunar New Year which falls on February 19 this year), said Deputy Minister of Industry and Trade Do Thang Hai.

The deputy minister told the media at a press briefing on February 2 that if Electricity of Vietnam proposes a price hike after Tet, the ministry will consider the situation before making any decision.

Regarding the petrol price, Deputy Minister Hai said the price is managed under the market economy control in line with Decree 83, which means when the world price drops, the domestic price will be adjusted accordingly.

However, the level of adjustment should take into consideration domestic situation, including purchasing power, people’s income and businesses’ competitiveness, the official said.

He also affirmed that goods supply is abundant from now to Tet, and market inspection is being intensified to prevent price manipulation, smuggling and the trade of banned goods in the biggest shopping season of the year.-VNA