Effort for Price Stability: Commodity prices stability Committee held a meeting

Chairman of Union Committee for stability of commodity prices Deputy Prime Minister Union Minister for Planning and Finance U Win Shein attended and gave a remark at the Committee meeting (2/2024) held at the Ministry in Nay Pyi Taw on 19th June.

In his remark, the Committee Chairman Deputy Prime Minister said that according to the decision of the Committee’s meeting, the relevant ministries, Regions and States governments and private organizations are collaborating to prevent the shortage of important goods including medicines and medical aid materials.

The Committee is scrutinizing and supervising to be consistent of the statistics submitted by the Regions and States and the ground situation, the Committee is making weekly ground inspection at the rice warehouse and rice shops, medicines warehouse and pharmacies by the combined inspection teams.

The hike price of foreign currency exchange rate and gold happened in May, 2024, Foreign Exchange Supervisory Committee (FESC) scrutinizes and permits for the availability of foreign currency to import the essential goods, the relevant departments and organizations are supervising regarding with the stability of gold price and foreign exchange rate, the Committee is collaborating with the relevant departments and organizations prioritizing the stability of rice and edible oil prices etc.

Next, the Committee Vice Chairman Union Minister for Commerce clarified the implementation for the stability of basic foodstuff prices including rice, edible oil and then, Regions and States Chief Ministers and Committee members reported the status of completing implementation on the decisions of the Committee meeting, reviewing on the price of major goods which have been particularly changing and undertakings for the stability of basic foodstuff prices.

After that, the Chairman of Union Committee for stability of commodity prices coordinated requirements and the tasks to be carried out for the relevant sectors and price stability as per the Region, it’s learnt.