The national steering committee on price management had its first meeting in Hanoi on December 9 to review the price management and operation activities this year, and their orientation next year.

The committee said that this year, the price management and operation activities were conducted well, and had considerable effect on the macroeconomic stability, reported Government news portal

Additionally, the government managed the supply and demand well enough to stabilise domestic market prices.

The price management was implemented along with an improving business environment, and it prevented and combated smuggling and trade fraud.

The price of services and essential goods such as petrol, electricity, coal, healthcare services and educational services were managed step-by-step according to the market mechanism, along with State regulation.

Deputy Prime Minister Vu Van Ninh, head of the committee, said that price management must follow market development and be active and feasible.

The prices of essential goods have stabilised over the past months, including of money price, milk, healthcare services and educational services, while petrol prices have changed as per the global market developments, Ninh said.

Next year, Ninh said, price management will continue to follow the market rules and must be unified, from the Central level to the provincial and city levels.

He pointed out that initially, the ministries, sectors and cities/provinces should be well prepared to meet the supply and demand of goods for production and consumption during the coming New Year and Lunar New Year. They must also combat smuggling and trade fraud to ensure price stabilisation.

The committee was set up in May and its members are leaders from various ministries and offices, including finance, industry and trade and planning and investment, as well as health, education and training, and transport, besides agriculture and rural development, government offices and the State Bank of Vietnam.-VNA