Price Stability Committee Meeting: DPM UM attended and gave opening speech

Chairman of Union Price Stability Committee Deputy Prime Minister Union Minister for Planning and Finance gave an opening speech at the Committee’s meeting (4/2024) held at the Ministry in Nay Pyi Taw on 21st November.

In his opening speech at the meeting, the Committee Chairman said that the Union Price Stability Committee was restructured on August 18th, 2023, and has since held committee meetings, the decisions made during those meetings are being collectively implemented by all committee members, the current rise in prices of basic foodstuffs in the regions and states is significantly affecting salaried workers with fixed incomes and low-income populations.

The Committee Chairman urged the region and state governments to actively manage and implement plans to stabilize the supply and sale of essentials such as rice, cooking oil, meat, fish, eggs, basic foodstuffs, medicine, medical supplies, and fuel.

He stressed the importance of detailed discussions to coordinate effective responses to current ground-level conditions, including identifying necessary actions and practical measures. Solutions to these challenges should be based on solid, accurate data, with collaborative efforts between the government and the private sector to devise and implement resolutions.

The Committee Chairman emphasized the need for short-term and long-term plans tailored to the specific contexts of each region and state to address price stabilization issues. He called for collaborative discussions and efforts to implement these plans effectively.

Next, the Committee Vice Chairman Union Minister for Commerce discussed the implementation for the stability of basic food price and plans to be carried out and the Region and State Chief Ministers and Committee members clarified the executions for the price stability as per the Region and State, daily supervising the essential supplies such as medicines and medical materials and fuel, difficulties facing and matters that should be implemented. Regarding with the discussions and clarifications, the Committee coordinated requirements to be carried out for the price stability as per the sector and Region.