JavaScript is off. Please enable to view full site.

Economist urges cap on fuel, power prices

Economist urges cap on fuel, power prices

Friday, August 23, 2013, 11:14 GMT+7

The government should stipulate ceiling rates for the prices of fuel and power sold to end-consumers, economic expert Vu Dinh Anh suggested during a seminar on price management in Ho Chi Minh City on Tuesday.

Price caps will help prevent the fuel and power monopolies from selling at prices that are too high and thus hurt consumers, Anh said at the event held by the finance ministry.

Once the ceiling prices are applied, the Electricity Group of Vietnam (EVN) and fuel giant Petrolimex will have to cut their operational costs and other expenses to maintain profits, instead of relying on hiking prices, the economist said.

Relevant agencies in charge of price management would calculate the ceiling prices based on all factors from input costs to taxes, and EVN and Petrolimex, as well as other fuel businesses, should sell their products at prices below the caps.

Anh said the ceiling prices will force the businesses to compete with each other by trying to cut operation costs.

“In a nutshell, the ceiling price policy is meant to encourage businesses to increase their business effectiveness rather than increasing prices,” he concluded.

Tuoi Tre


Read more

​Are you warm enough, Hoi An?  

I know it’s the rainy season but look at the locals in Hoi An, a small town in central Vietnam, they think it’s the beginning of a three-month Ice Age

3 years ago



Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news