The Ministry of Industry and Trade had initially proposed adjusting electricity prices to reflect input cost fluctuations and ensure that the Vietnam Electricity Group (EVN) has the resources to pay power plant investors. However, no specific price plan has been proposed yet by the Ministry of Industry and Trade, according to a report from the Ministry of Finance.
At a meeting of the Price Management Steering Committee on June 12, Deputy Prime Minister Le Minh Khai instructed the Ministry of Industry and Trade to develop a scenario outlining the time and extent of the electricity price adjustment in June. In addition to electricity prices, he also requested that the education and health sectors provide scenarios for managing goods this month. The deadline for these proposals is June 30, with the Price Management Steering Committee set to review and provide feedback.
Prime Minister Pham Minh Chinh has emphasized the importance of a gradual and market-based approach to adjusting electricity prices. Given the significant impact of electricity on daily life and the economy, careful consideration must be given to any price adjustments to avoid unexpected shocks. Experts warn that even a small increase in energy prices can have a notable impact on overall inflation rates.
In addition to electricity prices, various factors contribute to price fluctuations, including potential price pressures from education, health services, domestic air travel, logistics costs, and global inflation trends. Deputy Prime Minister Le Minh Khai urged ministries, branches, and localities to closely monitor economic conditions and geopolitical developments to prepare response plans. The goal is to ensure the availability and affordability of essential goods and services while mitigating inflationary pressures.
The government is aiming to maintain inflation within a target range this year by adopting a strategic and proactive approach to price management. By addressing various factors contributing
