DPM MoPF Union Minister discusses price stability mechanisms

Deputy Prime Minister Union Minister for Planning and Finance U Win Shein, Chairman of the Union Price Stability Committee, presided over the 1/2024 committee meeting yesterday.
In his speech, the Union minister stressed that the actions to stabilize the rice and cooking oil prices and proper activities for rice and paddy prices in the 2023-2024 monsoon paddy season based on the suggestions of MRF (Myanmar Rice Federation), were being carried out.
He added that the Central Statistics Organization and Department of Consumer Affairs collected the price lists of 14 essential foodstuffs in 22 townships starting from August 2023 and released the opinions and market status daily. According to the prices reported by the region/state committees to the Union Committee once every two weeks, the rice prices were slightly high in some regions and states. Moreover, the food trucks carrying basic foodstuffs, rice and palm oil were sent to ministries, staff housings and universities to sell the products at fairer prices.
He also highlighted the need to conduct the cooking oil distribution as per the SOP, whereas the Ministry of Commerce works with the Myanmar Edible Oil Dealers’ Association to ensure the sales are in accord with the allocated amount and the reference prices.
Moreover, the Ministry of Commerce also prioritized the import of medicines and medical supplies and the relevant committees, ministries concerned and private organizations should work together to implement the visions of the Union Price Stability Committee successfully.
Then, the vice-chair of the committee presented the completed work plans based on the decision of the 2/2023 meeting, distribution of reserved rice, systematic cooking oil distribution, and the chief ministers of regions and states reported on the manufacturing sectors.
The Deputy Prime Minister made proper instructions and concluded the meeting. — MNA/KTZH