Deputy Prime Minister Union Minister for Planning and Finance U Win Shein, who is also Chairman of the Union Price Stability Committee, presided over the committee’s 4/2024 meeting yesterday.

In his speech, the Deputy Prime Minister said the high prices of basic foodstuffs in regions and states can have huge impacts on labourers with fixed incomes and grassroots. Therefore, the measures, needs and practical actions should be discussed to control the current situation regarding rice, cooking oil, meat, fish, eggs, basic foodstuffs, medicines and fuel distributions.

He continued that climate change destroyed the agricultural sector and might impact on stability of commodity prices, and the flooding brought damages to monsoon paddy fields in certain regions, so there might be systematic arrangements for paddy cultivation, production, local consumption, reserve rice and export. The region and state government should oversee the fuel distribution. The government also emphasizes the livestock breeding sector to stabilize the meat, fish and egg prices.

He then stressed the need to supervise the prices of fertilizer and insecticide and make suggestions regarding short-term and long-term plans for price stability.

The committee vice-chair also presented the completed work plans, and the chief ministers of regions and states reported on the manufacturing sectors.

The Deputy Prime Minister made proper instructions and concluded the meeting.

The Union Price Stability Committee was reconstituted on 18 August 2023.

MNA/KTZH

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