Price Stability Issue: Committee’s meeting with UMFCCI & affiliated associations

Deputy Prime Minister Union Minister for Planning and Finance U Win Shein, in his capacity as Chairman of the Union Price Stability Committee, addressed a coordination meeting on Friday at the Ministry in Nay Pyi Taw.

In his address, the Union Minister highlighted the establishment of the Union Price Stability Committee, the first meeting of the Committee and its decision to cooperate with the UMFCCI and affiliated associations and federations for price stability.

The Committee is now working for stability of rice, cooking oil and cooking appliance prices. Entrepreneurs need to set fair prices that are not burdensome to consumers. It is also necessary to follow the established policies. Calling for open discussions, the Union Minister added that everyone must cooperate in order to contribute to the stability of commodity prices.

And, officials from the UMFCCI and affiliated associations and federations explained their undertakings and made suggestions for price stability. Then, union ministers made discussions on the undertakings and suggestions.

In his response, Union Minister U Win Shein stressed that correctness of accounting information is important in carrying out price stabilization activities. Both entrepreneurs and consumers must take action to prevent price increases due to false information.