NSS – Aug 23

According to the information from the 22nd Press Conference held in Naypyidaw yesterday, the committee for price stability has been reorganized which will be chaired by the Union Minister for Planning and Finance.

The Minister for Commerce Aung Naing Oo redeveloped the union committee for price stability in recent days to formulate more effective approaches for controlling the skyrocketing prices in the market. 

The permanent secretary of the Ministry of Commerce, Min Min, said during the PC that the fundamental causes of increasing prices involve imbalance between productivity and consumption; high prices of input factors; and high cost for manufacturing processes.

In addition, those who are greed and selfish to be wealth in wrongful way release rumours and disinformation intentionally to make manipulation in market prices.

Therefore, the price stability committee is reorganized by the Deputy Prime Minister as well as the Union Minister for Planning and Finance Win Shein in order to perform more effectively and extensively, according to Min Min.

What is more, authorities from relevant departments form state/regional level price stabilizing committees to control skyrocketing prices and for ensuring the food supply.